Careem, the App-based Chauffeur driven car service launched in Pakistan last year. It started from Lahore and now services has been extended to Karachi and Islamabad. The Uber alternate is credited for being the largest and fastest growing app based car hailing service in the MENAP region.
Careem Pakistan has today announced to acquire Savaree, a car pooling and rent a car service ─ operating in Pakistan since 2014. Savaree’s founder Madeeha Hassan will now join Careem’s global product team and assume the role of product lead for Pakistan. The press release issued by Careem doesn’t say anything about the financial aspects of this transaction, however with Careem raising $60 million funding recently ─ buying a company or two won’t affect the business in financial terms.
It merits mentioning here that after the launch of Uber and A-Taxi in Pakistan, Careem is facing tough competition considering their competitive rates.
[showhide type=”pressrelease”]Careem Pakistan Networks is delighted to announce its acquisition of Savaree, Lahore’s home grown pioneer of car hailing services. Savaree was founded by Madeeha Hassan in Jan 2014. She will be joining Careem’s global product team and will the role of product lead for Pakistan.
“We have had serious admiration for Madeeha, her grit, her entrepreneurial spirit and her awesome tenacity. She built Savaree from ground up, knows the nuts and bolts of this business and we are super excited to have her on board and lead product innovation for Pakistan. Careem’s strength in the region has been its localization of products, and Madeeha’s addition to the team is a shot in the arm on that front.” said Junaid Iqbal, Managing Director of Careem.
“This is still dream like for me. Hailing from Sadiqabad, graduating in Biotechnology, launching a tech startup, and to be acquired within 2 years, and now to join Careem, the region’s most exciting startups. I see in Careem the same vision and values that i identify with deeply.”
Careem formally launched in Lahore in October 2015 and since then has launched in Karachi and most recently in Islamabad and is credited for being the largest and fastest growing app based car hailing service in the MENAP region.[/showhide]
