Uploaded August 2026 | Updated September 2026, 1 week ago

---

Mudassir Sheikha and Magnus Olsson each put $50,000 into Careem in 2012, starting with a basic booking website and manually calling drivers to arrange rides.

Seven years later, Uber agreed to acquire Careem in a deal valued at $3.1 billion.

Today, Careem spans ride-hailing, food and grocery delivery, payments and other everyday services across the Middle East.

Watch the latest episode of “Founder Effect” on the link below to learn how Sheikha built Careem, why the company sold to Uber and what comes next.

#CNBC #CNBCMakeIt #Entrepreneur #FounderEffect #Careem

-----

Subscribe: @cnbci

CNBC International Live: @cnbcinternationalive

LinkedIn: linkedin.com/showcase/cnbc

TikTok: tiktok.com/@cnbc

Facebook: facebook.com/cnbc

Instagram: instagram.com/cnbc

Threads: threads.net/@cnbc

X: twitter.com/CNBC

Telegram: https://t.me/cnbc