Careem

The Everything App

Careem's $3.1 billion acquisition by Uber in 2019 remains the most important exit in MENA tech history — not because of the price tag, but because it proved a regional champion could build something a global giant needed to buy rather than outspend. The subsequent spin-out with e& was a bet that the super app thesis, which has largely failed in Western markets, might work in a region where digital infrastructure is still being laid.

The real question is whether Careem can avoid the trap that catches most super apps: doing many things adequately while doing nothing exceptionally. With Uber retaining ride-hailing and Careem pivoting to payments, food, and services, the company is essentially a startup again — albeit one with brand recognition and $772 million in backing. Watch whether daily active usage grows or whether it becomes just another app people open once a month.

The e& partnership gives Careem distribution through telecom channels that no pure-play startup can match. But telco-backed ventures in this region have a mixed track record of moving at startup speed. That tension — corporate backing versus startup agility — will define Careem's next chapter.