Taman Islam’s Post

The first Middle-Eastern unicorn…… This Pakistani man turned an opportunity into a billion-dollar startup Mudassir Sheikha, the man behind Careem, the leading ride-hailing app in the Middle East.

 It all started when his colleague at McKinsey, Magnus Olson, almost lost his life following an unexpected brain aneurysm. The two friends promised themselves they would build something impactful if he survived, so when Magnus recovered, the pair started to brainstorm ideas of what they could fix in the region.

 At first, the pair wanted to simplify the transport of consultants in the Middle East by building a B2B ride-hailing app, but then looking into Uber, Mudassir found some issues with unreliable cars, lack of Arabic support and low brand recognition in the region. 

So in 2012, he launched Careem with his co-founder Magnus, a homegrown taxi service for the Middle East with Arabic language and regional payment options, it was tailored to local needs. 

While Uber focused on global expansion, Careem concentrated its efforts locally. They trained drivers in Arab and kept building trust and service quality. They also focused on the driver’s economic and social well-being and renamed them captains to break the regional stigma around the job. 

Today, Careem is the household name for ride-hailing in the Middle East and has spread to over 100 cities across the region with more than 33 million users. Careem was acquired by Uber in 2019 for 3.1 billion dollars making it the first unicorn in the Middle East. #inspiring #knowledge #enterpreneurship #leader #ride

🚍 Transforming Bus Travel: The Redbus Journey 🚍 Founded in 2006 by Phanindra Sama, Sudhakar Pasupunuri, and Charan Padmaraju, Redbus has revolutionized bus ticketing in India. The idea came from Phanindra's difficulty in booking a bus ticket home during a festival. From a small startup, Redbus has grown into a major online bus ticketing platform. Key milestones include: 🔹 Initial Growth: Building partnerships with bus operators and creating a robust technology platform. 🔹 Funding: Supported by Seedfund, Inventus Capital Partners, and Helion Venture Partners. 🔹 Acquisition: In 2013, acquired by the Ibibo Group, a Naspers subsidiary, for an estimated $100 million. #Current_Situation:- Today, Redbus operates in India and countries like Singapore, Malaysia, Indonesia, Colombia, and Peru. #Key_Features:- 🔹 OnlinePlatform: User-friendly website and mobile app. 🔹 Wide Network: Connects with numerous bus operators, offering extensive route options and bus types. 🔹Additional Services: Live bus tracking, ratings and reviews, easy cancellation. 🔹 International Presence: Successfully adapted to local markets globally. #Financial_Performance 💰 2018 Revenue: Reported around INR 350 crore (approx. USD 50 million). 💹 Growth: Consistent revenue growth driven by expanding user base and geographical reach. #Challenges and #Future_Prospects 🔍 Challenges: Competition, maintaining service quality, regulatory changes. 🚀 Future: Enhancing technology, expanding internationally, exploring new services. Redbus continues to innovate and expand, transforming bus travel for millions globally. #Redbus #TravelTech #StartupSuccess #Entrepreneurship #BusTicketing #PhanindraSama #SudhakarPasupunuri #CharanPadmaraju #Innovation #TechInIndia #GlobalExpansion #StartupIndia

As a traveller, it is essential to explore uncharted territories in order to get a different perspective of the world. Many travellers like to stay connected to the internet to fully connect with the place they are visiting. #Kolet, a company that aims to revolutionize travel connectivity, has recently made headlines in the #tech industry. Their plan is two-fold: firstly, to make #travel eSIMs user-friendly and accessible by offering a free 1GB trial through travel partners, allowing people to experience the convenience of #eSIMs before committing. Boundary Holding firmly believes that this would be a game-changer for frequent travellers, offering seamless connectivity wherever they may go. #Startups #esim #Kolet

#NewsUpdate |Five travel startups raised over $70 million this week, including LimoLane’s $38.2 million, covering corporate travel, flying taxis, and hotel tech. https://lnkd.in/egCkXtXi #RealtyNXT #HotelTech #BusinessTravel #TravelStartups #FundingRound #InvestmentNews #TechInnovations #TravelTech #CorporateTravel #StartupFunding 

BuuPass Aims for 12 Markets by 2025 Following QuickBus Acquisition. Kenyan startup BuuPass - Bus, Train & Flight bookings, a B2B2C mobility marketplace platform founded in 2016 by Sonia Kabra and Wyclife Omondi, plans to expand into eight more markets by 2025, bringing its total to 12, following its recent acquisition of QuickBus - Intercity Bus Travel. BuuPass enables users to search, compare, and book travel tickets via web, app, or USSD, and helps bus operators manage their operations through its SaaS platform. The startup has sold over 16 million travel tickets, generating over US$100 million in total value of goods sold, and has participated in the Google for Startups Accelerator Africa and received backing from the Google for Startups Black Founders Fund. BuuPass raised US$1.3 million in a pre-seed round in February 2023 and acquired QuickBus, a Kenyan bus ticketing venture, in April 2023. The acquisition has expanded BuuPass's presence to South Africa and Nigeria, in addition to Kenya and Uganda. The company plans to enter Tanzania next, with a broader goal of reaching eight new markets by 2025. Currently, BuuPass operates in more than 650 localities in Kenya and over 80 in Uganda. #BuuPass #KenyanStartup #MobilityMarketplace #QuickBusAcquisition #AfricanExpansion #TransportationTech #StartupGrowth #TravelTech

An incident in #Bengaluru involving a #customer and an #Ola driver is absolutely unacceptable and it sheds light on the issue of cancellations and customer safety. Time is crucial for everyone, and companies are working to provide diverse commuting options to save time. Booking multiple ride-hailing options is not wrong when time is the priority. Drivers prioritize convenience by choosing the best option for them, leading to cancellations from their end. While this balances "Time for Customer" and "Convenience for Drivers," the cancellation problem persists. Innovative solutions are needed to address this without compromising time and convenience. A penalty of Rs. 60 is not the solution. Ideas like automatically cancelling other options once the best one is booked can help address this issue. I believe it's high time that startups solve the problem which arises due to solving the initial problem. Also it's high time that customer safety is prioritised over everything else. #startups #ideas #ola #uber #nammayatri #rapido

#fundingalert 💼Company: Stippl 💰Funding: €575k ⚡Round: New Round 👥Investors: Marbruck Investments, Volve Capital Stippl is created to accommodate all travelers, which means it’s also there for those who travel for a living. Besides using the app to plan their trips, travel content creators can share their itineraries and adventures and engage with their audiences before, during and after their adventures via the newly updated “Discovery” section. Since then, the platform has evolved into a pioneering all-in-one travel app where travelers can plan their journeys, including accommodation, transportation, activities and much more. Luuk Verhoeven Joost Bijlsma Omar Sheshtawy Robin van Rijn Catarina Santos Read more - https://lnkd.in/gATuah42 To share your startup story write us on - contact@startuprise.co.uk #Stippl #travelapp #travelling #transportation #traveltech #funding #travelnews #startupnews #fundingnews #news #eustartup #startup #news #startuprise

Indian travel tech company EaseMyTrip has reported a net profit of Rs 47.5 crore in the third quarter of FY24, marking a 9.5% increase from the Rs 41.2 crore profit reported in the same period last year.  Additionally, Its revenue also hit Rs 160.7 crore, an 18.1% year-on-year increase. The company's EBITDA also rose to Rs 65.3 crore, marking a 10.9% year-on-year growth. Read the full story here: 👇 https://lnkd.in/ddJEPwtB #easemytrip #traveltech #travel #business #startup #Indianstartupnews

Attention all travelers! Want to make some extra cash while on the go? Look no further than eRRANDA. With eRRANDA, you can get paid for helping someone move items that are headed your way. No more traveling for free! Connect with someone who has items headed in your direction, help them move these items and get paid for your services. It's that simple. Join eRRANDA today and start earning while you travel. Join our waiting list on www.errandatech.com #travel #earnmoney #erranda #startup

Attention all travelers! Want to make some extra cash while on the go? Look no further than eRRANDA. With eRRANDA, you can get paid for helping someone move items that are headed your way. No more traveling for free! Connect with someone who has items headed in your direction, help them move these items and get paid for your services. It's that simple. Join eRRANDA today and start earning while you travel. Join our waiting list on www.errandatech.com #travel #earnmoney #erranda #startup