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RIDE, RIVALRY AND RESILIENCE : THE STORY OF CAREEM. Chapter 6: Acquisition Talks. A seismic shift occurs in the narrative as reports surface of acquisition talks between Uber and Careem. Mudassir Sheikha finds himself at the center of negotiations that could redefine the landscape of the Middle Eastern tech industry. The chapter unfolds with a delicate balance between preserving Careem's regional identity and considering the potential benefits of aligning with the global ride-hailing giant. Sheikha's strategic acumen takes center stage as he navigates the complexities of acquisition discussions, weighing the pros and cons for Careem, its employees, and its users. The narrative captures the behind-the-scenes negotiations, from valuation discussions to addressing regulatory considerations. The chapter explores the emotional and strategic considerations that Sheikha and his team grapple with during this period. The prospect of joining forces with Uber brings both opportunities and challenges, and Sheikha must carefully assess the impact on Careem's mission and its role in shaping the future of transportation in the Middle East. Ultimately, the chapter concludes with a pivotal decision that marks a turning point in Careem's trajectory. The outcome of these acquisition talks sets the stage for the next phase of the company's journey, with implications for the regional tech ecosystem and the global ride-hailing industry. #startup #strategy #careem #uber

Micromobility startup Bird has filed for bankruptcy in the US. #Bird, a prominent player in the electric scooter industry, has recently filed for Chapter 11 bankruptcy. This development marks a significant turn for the company, founded in 2017 by Travis VanderZanden, a former Lyft and Uber executive. Bird, known for its dockless micromobility platforms in urban areas, faces a challenging period following a turbulent year. Bird's journey from a startup to a public company via a SPAC merger in late 2021 was initially met with enthusiasm. However, the reality of operating in a crowded and economically challenging market soon set in. The company's stock experienced a drastic fall, plummeting from a market cap of over $2 billion at its New York Stock Exchange debut to just $70 million within a year. This decline triggered a warning from the #NYSE about Bird’s low share price, eventually leading to its delisting in September. The Chapter 11 filing allows Bird to undergo a financial restructuring process without halting its operations. This move, supported by a $25 million financing agreement with Apollo Global Management, Inc. division MidCap Financial, is aimed at strengthening Bird's balance sheet and positioning it for long-term growth. Interim CEO Michael Washinushi continues to lead Bird through this transformation, focusing on profitability and sustainability. This restructuring represents not just a challenge, but also an opportunity for Bird to redefine its strategy in the micromobility sector. Bird’s situation reflects the broader challenges faced by micromobility startups. With competitors like Micromobility.com also facing delisting and European counterparts experiencing layoffs and bankruptcies, the industry seems to be heading towards consolidation. The news on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/TvMFX  - Substack: https://lnkd.in/dzfGJzmW

Despite aiming for success and showing great promise, many scaleups face significant challenges that obstruct their path to growth. Today, we'll explore the underlying reasons why most scaleups struggle to thrive, identifying common pitfalls that hinder their progress. Swipe through to learn what is hindering your scaleup’s success. #Scaleups #BusinessGrowth #SuccessStrategies #UXDesign #UserExperience

🚖 Celebrating the Visionaries Behind Uber's Journey! 🚖 As we applaud Uber's recent IPO, it's crucial to recognize the incredible minds that ignited this revolution in urban transportation. Travis Kalanick and Garrett Camp, the co-founders of Uber, envisioned a world where getting from point A to B was not just a commute, but an experience. Their relentless pursuit of innovation reshaped the way we think about mobility, making it more accessible and convenient for millions around the globe. Their vision went beyond a ride-hailing service; it was about transforming the way cities move and connect. Today, as we witness this momentous IPO, we owe a debt of gratitude to these trailblazing entrepreneurs. Their audacity and determination have not only built a global brand but have fundamentally altered the way we navigate our cities. Cheers to Travis Kalanick, Garrett Camp, and the entire Uber team for turning a disruptive idea into a cornerstone of modern transportation! 🌟🚀 #UberFounders #Visionaries #UrbanTransportation #TechPioneers #MergersAndAcquisitions #MandA #BusinessAcquisition #DealMaking #CorporateStrategy #InitialPublicOffering #IPO #StockMarket #GoingPublic #InvestmentOpportunity

📣 Exciting News! We're heading to SaaStock Dublin, Oct 16-18! SaaStock is Europe's hottest SaaS festival, where you can network with over 6,000 SaaS Founders, Investors, Operators, and more. Be sure to stop by our booth at G3 to learn more about your free valuation! We'd love to meet with you, so schedule some time in advance with our team through the link in the comment section below. See you there! #SaaS #startup #software #tech #SaaSGrowth #Dublin

Icore Solutions has been acquired by Volaris Group. With the recent acquisition of Icore, the company hopes to advance its development and bolster its position in the market while fostering long-term, sustainable growth. iCore Solutions will maintain the name, brand, and market-specific emphasis of the business while functioning as an independent division of Volaris Group. Icore will benefit from a robust parent company that will provide it with a wide range of tools, a worldwide network, and the chance to engage with other firms in the group. Volaris Group offers specialised and vital business solutions to global software industry vertical markets. By solidifying its positions in the market segments in which it has acquired companies, Volaris hopes to promote their long-term growth. Icore Solutions are a top supplier of business integration products, services, and knowledge. They tackle some of the most difficult problems out there in collaboration with partners and consumers. Mikael Boquist Christian Lanng Nielsen Rick Bacchus James Baker Read more - https://lnkd.in/gTFWmgit To share your startup story write us on - contact@startuprise.co.uk #VolarisGroup #IcoreSolutions #acquisition #collaboration #news #startupnews #news #startuprise

Innovating Together: Artico on Company Acquisitions Artico predicts larger #tech firms acquiring smaller #SaaS startups in 2024. Explore the tech landscape as these entities are absorbed, supplementing offerings with innovative technology. Explore at Artico Search.

A few days ago we concluded Recro’s quarterly Strategy Meet. This time, it was led by Michelle Maria Thomas, Sr Business Transformation Advisor at Stanford Seed. Michelle’s presence energized the team as we discussed: → Running diagnostics on our current ops and internal systems and setting new performance benchmarks, practices and competencies required to meet goals. → At Recro we live our values. Since our core values were created 7 years back, we felt it was time to know if current members are able to relate to the same and do they believe in them to take the company to the next level in the upcoming decade. Inclusivity is also a key focus for us now. → We also spent a whole lot of time dreamweaving, an exercise where you can whip up a future you think should exist without any constraints. This helps us push our boundaries. I was happily surprised by the fact that my team have bigger ideas and goals than me 😅 Thanks to Michelle for her time in helping the team build alignment and for asking questions for which we didn’t have easy answers. #startups #growth #future #tech

Let's discover the semi-finalists of the Prix Strategis! 🚀 Our fourth semi-finalist is TERA Technologies ! They’ve crafted a distinctive go-to-market strategy that sets them apart from many EV startups. Instead of reinventing the wheel, they’ve chosen to concentrate on their core technology and designs while leveraging existing platforms. This strategic decision has not only saved them substantial R&D time but has also significantly reduced production risk. As a result, their inaugural product, the MiracleONE, is primed to commence production by year-end. Their primary focus revolves around the expansion of their dealer network, establishing key touchpoints for their brand and products in the physical realm. If you want to learn more about them : https://lnkd.in/eNMaEJvw

🏆 Here it is!!! Last week, we were awarded "Best Tech Sales Employer 2024" at the ARRtist Circus in Berlin! 🎉 ❓ What is our secret you may ask! 👉 It's the people and our culture! We are... 🪴 𝗵𝘂𝗺𝗯𝗹𝗲, rather than assuming, we challenge the status quo! 🤝 𝘁𝗿𝗶𝗯𝗮𝗹 and stand together, supporting each other! 🎯 𝗴𝗼𝗮𝗹-𝗼𝗿𝗶𝗲𝗻𝘁𝗲𝗱 and driven by success, we tirelessly strive to achieve our objectives! ⚙️ believe in continuous improvement (𝗸𝗮𝗶𝘇𝗲𝗻) and embrace feedback to refine ourselves daily! 🗑️ committed to streamlining processes (𝗹𝗲𝗮𝗻) for maximum efficiency! #bestemployer #techsales #startup