Ride-hailing company Careem says profitability in sight



Ride-hailing service Careem is targeting profitability next year or in 2018 and is in talks with potential investors about its latest fundraising plans, co-founder Mudassir Sheikha told Reuters on Tuesday.
The company, which has a larger market share than rival Uber [UBER.UL] in most of the 32 cities in the Middle East, North Africa and Pakistan region in which it operates, aims to expand in new markets including Oman and a number of North African countries, managing director Mudassir Sheikha said.
Launched in Dubai in 2012 by Sheikha and fellow McKinsey & Co alumni Magnus Olsson,... read more

 
27 September 2016 in Science &Technology, Views: 40
Source: Reuters
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