And the something new, initially, was markets. Both ride-hailing companies will operate their respective regional services and independent brands. Check out professional insights posted by Mudassir Sheikha, Join now; Sign in; Mudassir Sheikha. Personally as well, but also reinvent the way that youre doing things. Shikhar Ghosh: And then you have to live the process. Theres always something thats going right and wrong with different markets. : So last question and then we can stop here. But for you, it feels like its more that this is what you have to do to be competitive, but from a pure sort of market share and all of that perspective. : So even if you create new businesses, if the operating system is robust enough, then it will morph into that. The task and the challenge of getting that right was not as I was nave on that front. I mean, now were not getting growth because that thing is no longer working. Now, I dont know how long we followed that contract, which was sort of the sad part. If you dont deliver them the right experience, and they get a certain quality of experience from within Careem, how can we expect them to deliver an outstanding experience outside of Careem, right? Mudassir Sheikha: The three pillars are shoot for the moon and beyond. How Mudassir Sheikha, a Pakistani entrepreneur built the first unicorn But then it becomes products and product market and so on. So we were very hands-on and theres a culture of being hands-on at Careem. We created some values and we just left it there. : In fact, if anything, I felt I was busier two years into it than I was busy in the beginning because there was just a lot more to manage. [18], In June 2022, Careem suspended food delivery service in Pakistan over unfavorable economic conditions.[19]. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. They feel aligned and driven to make it happen. : And at that point, investors are expecting a certain degree of formality and all of that. Spend the first three to four hours just doing the things that Im supposed to do, which a lot of times is thinking through some of these topics that require more deliberate thinking. Mudassir Sheikha is an American Pakistani business executive and co-founder and current CEO of the Middle Eastern and North African ride-sharing app company Careem that is based out of Dubai, UAE. What percent of the times is a car available? The numbers dont change immediately. You could drive growth differently and probably the healthier way if you target lesser, lower growth rates because then you can focus on the right things, which might take a little bit longer to put in place, but theyll bring healthy growth. And sort of it was within range, right? This was a five-year business plan that was prepared in 2012. And get some early head start in this business. : But there was a process, right, where we were even testing people on values. You know, one of our first things was driven by our mission and values. You know, whats the completion rate of the trip? Exactly. [34] In Saudi Arabia, Careem and Uber have started recruiting women, as part of the Saudi Women to drive movement. What were the things that surprised you that as you grew, you know, what were the things that you came in and said, well, this is sort of different from what it was, what I was thinking it might be? Because you have to be looking at things and deciding when to intervene.
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