Careem, the Dubai based ride hailing app has acquired the Lahore based Savaree, the local on-demand cab service, which (Savaree) started out as a carpooling platform in the city two years ago.
Careem, the ride sharing app of the Middle East, move come as the company eyes to dominate the streets of Pakistan, and in particular to counter Uber, which entered the local market in March this year.
According to local media reports, Junaid Iqbal, Careem’s managing director in Pakistan said that his company has acquired 100 percent share of Savaree, and had also taken the company’s (Savaree) employees on board. “Careem’s strength in the region has been its localisation of products, and Madeeha’s addition to the team is a shot in the arm on that front,” Iqbal said.
Careem announced its acquisition, with much fanfare but provided little information, on its Facebook page.
As per Tech in Asia, the Lahore based Savaree, will maintain its brand and operate under the umbrella of Careem. Whereas, Madeeha Hassan the Savaree founder will join Careem’s global product team, and will be responsible for managing operations in Pakistan.
“We have acquired Savaree for the talent and immense local knowledge it brings along,” Junaid Iqbal said.
Careem operates in 20 cities around the world, from Morocco to Pakistan and with its latest acquisition, would add to the competition that Uber faces globally.
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