What is the problem? Instead of duplicate brands, they just consolidated to one.
Seems they have done some loan talks with UAE. So UAE Kareem in and Uber out. Closing operation without giving any valid reason makes no sense and UAE Kareem running its operation successfully.
In-Driver is currently destroying all the ride-hailing companies right now in Pakistan.
Careem was bought by Uber not long ago.
This is clearly a business decision that is meant to streamline their footprint in the country. This has nothing to do with the government or the current economic troubles. Some may try to spin this differently.
This is clearly a business decision that is meant to streamline their footprint in the country. This has nothing to do with the government or the current economic troubles. Some may try to spin this differently.
On a related note, cab and auto drivers in India are typically livid with Uber and other ride hailing services. I wonder how things are in Pakistan
It's due to severe corruption by Uber drivers who don't accept the ride when it's done they charge whatever they want and then later accept it which is much lower then what they got.
That's not the reason..
Careem is owned by Uber, so if Uber was really pulling the plug they would sell Careem.
Careem will soon leave too
Sell to whom?
New Recruit
In Driver's growth has been absolutely incredible, from 0% market share in 2021 to almost 70%+ now. It remains to see if they can maintain that market share because that growth was all out of VC's money dumping into the platform.
That's the case with all ride-hailing companies, their plan is to grow as fast as possible while figuring out ways to minimize losses. This approach requires huge capital and large sums of money get burned very quickly. As long as VCs keep giving them money they will keep growing. Look at our own Airlift, when Airlift needed series C funding, the VCs backing Airlift said that they will grant them money after a month. Airlift couldn't afford to wait a month and this resulted in the death of Airlift.
