Pakistan-origin Unicorns

[Falcon26]

Unicorns are startups with valuations above $1 billions. I will try to list some of the Pakistani-origin startups that are classified as unicorns

Cavium: Founded by Pakistani-American Raghib Husain designs and manufactures semiconductors. It was acquired by Marvell for $6.1 Billion

https://www.anandtech.com/show/1305...of-cavium-gets-cpu-networking-security-assets

Careem: A ride hailing startup founded by Pakistani-American that was acquired by Uber for $3.1Billion
https://www.uber.com/newsroom/uber-careem/

Afiniti: Founded by Pakistani-American it’s data and software company. It’s valued at 1.6-Billion

https://venturebeat.com/2017/04/14/sales-ai-company-afiniti-raises-1-6-billion-files-for-ipo/

Zameen/EMPG: Pakistani real estate company valued at over $1 Billion https://www.menabytes.com/empg-olx-150-million/

KeepTruckin: A fleet management company founded by Pakistani-American. It’s valued at $1.4 Billion https://news.crunchbase.com/news/keeptruckin-drives-in-149m-series-d-taking-valuation-to-1-4b/

 

[Falcon26]

Pakistan’s startup ecosystem will boom in the next couple years as number is exciting startups mature. In this era of doom and gloom, it’s amazing to hear that Pakistanis are continuing to innovate and competing to forge ahead.

https://www.menabytes.com/pakistani-startups-next-big-thing/

 

[Kompromat]

All of them should be invited to open research and business center in Pakistan

 

[HttpError]

One day you'll see my startup also listed here.

 

[313ghazi]

One day you'll see my startup also listed here.

InshaAllah. Do you want to tell us a little bit about it, or is it all a secret yet?

 

[Falcon26]

All of them should be invited to open research and business center in Pakistan

Many of the companies have strong presence in Pakistan. for example,
https://www.afiniti.com/offices/lahore

 

[Jugger]

All of them should be invited to open research and business center in Pakistan

Here is the difference, all these Pakistanis make their billions outside Pakistan, now you need to ask the question why..?

Why are people afraid to invest in Pakistan?

 

[Falcon26]

Here is the difference, all these Pakistanis make their billions outside Pakistan, now you need to ask the question why..?

Why are people afraid to invest in Pakistan?

much has to do with the regulatory and legal environment in Pakistan. Fortunately, the current government is cognizant of this and has recently approved amendments to the law to facilitate startups

https://profit.pakistantoday.com.pk...ents-in-companies-law-to-facilitate-startups/

 

[313ghazi]

Here is the difference, all these Pakistanis make their billions outside Pakistan, now you need to ask the question why..?

Why are people afraid to invest in Pakistan?

Good question.

Rampant corruption and security issues. Only a fool would have invested their money in Pakistan in the last 20 years. The security issue has been addressed - now the corruption issue is being addressed too.

In the past, if you invested in any part of Pakistan, different politicians will ask you for bribes and percentages. It was a protection racket. If you don't pay they use criminal goons to attack you or your business. Alternatively they use tools of the state that they have to cause your business for sale.

An example from the town near our village. A man moved from the UK and setup a business selling building supplies. He made a lot of money and decided to re-invest it in a marriage hall. This small town already had 1 marriage hall, but he build one that was bigger, nicer, more parking, more landscaping etc. The owners of the first one are linked to a political family. They didn't want the competition so they approached the politicians who told the electrical department not to provide the transformers required to allow this huge building to have AC.

He is a stuborn man and has invested in fans and diesel generators, you only really need the AC in the summer months in our part of AJK (which happens to be peak wedding season). His business is still successful (due to sheer volume of business in the area), but if he had AC, his would be automatic first choice.

Zardari wasn't called 10% without reason. The PPP and MQM used criminal gangs in Karachi for the same purpose. Nawaz Sharif killed one of his own relatives. Nearly everyone on this forum will know a story where someone has been screwed like this by politicians, be it in business or land/property transactions.

 

[Syed1.]

I don't want to be the cloud on a sunny day but honestly apart from Careem and Zameen all of them are mostly by Americans who happen to be of Pakistani origin. America provided them the opportunity, training, manpower and incentives to flourish as startups and become unicorns while in Pakistan there are a thousand barriers that spring up even when you think of launching a startup.

 

[Falcon26]

I don't want to be the cloud on a sunny day but honestly apart from Careem and Zameen all of them are mostly by Americans who happen to be of Pakistani origin. America provided them the opportunity, training, manpower and incentives to flourish as startups and become unicorns while in Pakistan there are a thousand barriers that spring up even when you think of launching a startup.

Actually all the other ones you mentioned were trained and educated in Pakistan, NED specifically

 

[Bilal Khan (Quwa)]

I don't want to be the cloud on a sunny day but honestly apart from Careem and Zameen all of them are mostly by Americans who happen to be of Pakistani origin. America provided them the opportunity, training, manpower and incentives to flourish as startups and become unicorns while in Pakistan there are a thousand barriers that spring up even when you think of launching a startup.

Agreed. I'm less concerned about them even being educated or raised in America, but the point is, it was America's environment that mattered most. In Pakistan, you must deal with everything from corruption to outright incompetence and negligence (at the bureaucratic level).

The simplest way to start addressing this is to set-up a SEZ for Pakistanis with minimal/streamlined start-up processes and a flat-rate tax structure. However, no other fees, no other drama, nothing. Heck, the gov't might want to waive all tax for at least the first few years a business enters the country, and in critical industries, maybe foot the capital too. It'll seem like a lot of concessions, but that's the cost of 50+ years of corruption. You're not going to instill domestic investor confidence otherwise.

 

[Liquidmetal]

Agreed. I'm less concerned about them even being educated or raised in America, but the point is, it was America's environment that mattered most. In Pakistan, you must deal with everything from corruption to outright incompetence and negligence (at the bureaucratic level).

The simplest way to start addressing this is to set-up a SEZ for Pakistanis with minimal/streamlined start-up processes and a flat-rate tax structure. However, no other fees, no other drama, nothing. Heck, the gov't might want to waive all tax for at least the first few years a business enters the country, and in critical industries, maybe foot the capital too. It'll seem like a lot of concessions, but that's the cost of 50+ years of corruption. You're not going to instill domestic investor confidence otherwise.

Brilliant idea. We had thought of investing but you need people with connections to ensure you are paid for the services, land mafia does not take your land, water mafia does not steal your water, bank mafia to supply a good banking service, local government supply the services needed. Legal mafia to give your justice, just too much effing headaches and things to deal with so while the market is there, the businesses are open to too many looters and corruption. If this can be dealt with via an economic zone than many more expats would invest. almost all of us want to see Pak prosper so we can proudly and comfortably live in a country that is safe, clean, easy to live in.

 

[Gentelman]

Anything by Pakistani originated in Pakistan and still owned by Pakistani?

 

[Pakistansdefender]

Pakistan’s startup ecosystem will boom in the next couple years as number is exciting startups mature. In this era of doom and gloom, it’s amazing to hear that Pakistanis are continuing to innovate and competing to forge ahead.

https://www.menabytes.com/pakistani-startups-next-big-thing/

Also sadapay is about to be launched.