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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The most popular startup of the Middle Eastern region just exited its decade-old operation in the country, citing competition and macro challenges. Both these reasons need to be unpacked and understood separately.
قصص آنية ومفصلة ومكتوبة بعناية من المنطقة
Timely, detailed and well-written stories from the region
For the modest tech ecosystem of Pakistan, it’s a rather grim development. After a decade of operations, Careem, one of the most popular ventures in this part of the world, just decided to pull out of the country’s ride-hailing market.
In a statement last month, Careem’s co-founder and chief executive Mudassir Sheikha said that by 18 July, the ride-hailing vertical would cease all operations in Pakistan. Sheikha, arguably the most influential Pakistani entrepreneur of the past decade, also said this exit has been an incredibly difficult decision (Careem’s first line of code was written in Pakistan).
For the unfamiliar, Careem …
آراء حول أحدث التطورات في الأعمال والاقتصاد من محرر الشرق الأوسط
Views on the latest happenings in business and economy from our ME Editor
