Savaree can not stand alone to beat low prices offered by Uber, without any investment. Now it will be a face-off between the big guns – Uber and Careem in Pakistan.
Junaid Iqbal, the Managing Director of Careem said:
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.
Madeeha Hassan, the Founder of Savaree, said about her company’s acquisition:
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 was launched back in Pakistan in 2015. It started providing its services in Karachi and Lahore initially. This service is also available in many cities of Middle East which includes UAE, Bahrain, Beirut, Cairo, Riyadh and Jeddah. After its success in these regions, Careem is planning to extend its services as it is going to be launched in Islamabad.