Careem was founded in Dubai in 2012. The company began as a website-based service for corporate car bookings before developing into a ride-hailing business.
Its founders, Mudassir Sheikha and Magnus Olsson, had worked as management consultants at McKinsey & Company. Dubai provided a strong launch base because it was a wealthy, internationally connected city with a large expatriate population and substantial demand for convenient transportation.
Careem expanded across the Middle East, North Africa, and South Asia, adapting its service to local taxi systems and payment habits. It later broadened beyond rides into food delivery, grocery delivery, bicycle rental, and digital wallets.
A common mix-up is confusing Careem’s founding city with cities where it later became especially prominent, such as Riyadh or Doha. Careem was acquired by Uber in 2020 for about $3.1 billion, but it continued operating under its own brand.