You can say, okay, wow for someone in finance means your customers are not just the external customers, which is you have a limit of external interaction as well, but a lot of your customers are internal, right? And once this is in place, then we will be able to take a step back and make sure that we keep evolving this thing, versus evolve the business that this thing produces. And I think Abdulla earlier this year sat down with me and said, look, you cannot outsource values and Careem operating system to someone else. That would have saved us a lot more time and effort down the road. Today, Careem is the leading technology platform across the greater Middle East and was recently acquired by Uber in the largest industry transaction seen in the region. You could almost do any of the jobs yourself. : The people processes, the structure. Why can it not be in the Middle East? : I think 15 minutes or 30 minutes is within the same range. But generally, Friday Ive been able to block. You know, I was an EP at Mackenzie, but I didnt know what Mackenzies revenue was because is not something that the organization spoke about ever. I need to get responses in this time, Im going to pay this much money. Shikhar Ghosh: Two years ago. You can do it. Or were we giving just people feedback on their delivery and their performance? Shikhar Ghosh: And at that point, investors are expecting a certain degree of formality and all of that. So growth was a big, you know, weekly growth rate. How do you transfer that, then? What does it mean? : So what does your day look like? Is it wrong? So amazing experiences. But then youre not going to be doing all the hiring. : So the three pillars are to the moon and beyond, be of service, and take ownership. : Yeah, because one thing you have to realize is there are some net worth effects in this business. Even people that werent hands-on in the beginning, after six months, theyre forced to be hands-on because thats the expectation the organization has because we started doing everything ourselves and thats how we built this. Where we, you know, we were giving people feedback, right? And automatically are starting to get absorbed in what the system does, versus what people do. Thats the default one. So how will we win against someone like that? And thats the main driver of high growth rates. And thats the main driver of high growth rates. The idea was not just to build a big business, but start one that would have a big impact, be meaningful, and with a mission to simplify and improve lives and create an awesome organisation that inspires. [23] In December 2016, the company raised US$350 million in a Series D round, based on a US$1 billion valuation for the company. Angel, Fund of Funds, Venture Capital), Number of Investments the Individual has participated in, Number of Investments the Individual has partnered in, Total number of current Jobs the person has, Total number of events the individual appeared in, Number of news articles that reference the Person, Careem expands to Sudan with the launch of operations in Khartoum, Careems tech drive: Going beyond mobility, Careem says restaurants got the short end of the stick, cuts commission for food delivery, The Year That Was: Mudassir Sheikha, Co-Founder And CEO, Careem, Chasing scale: A Pakistani investors insight. And when that service is provided, it needs to have very clear SLAs. In fact, they were helping us-. Its an output of you doing all the right things, right? This thing will start driving and incentivizing people the right way. What were the things that surprised you that as you grew, you know, what were the things that you came in and said, well, this is sort of different from what it was, what I was thinking it might be? So how do you deal with that? Six months later, competition does the same thing. With over one million captains spanning across 100+ cities, Careem embraced the diversity of different cultures to build for scale. At least, I never did it. Shikhar Ghosh: So what does that mean? It will slow you down in the very, very beginning because it requires some thinking. Or for that matter, engineering. Client satisfaction, repeat work from those clients, and there was a belief that if you focused on these things, then they dont have anyone to follow, right? Careem - Wikipedia So after CVC, we said lets start-. So the first two years we bought, and I think somewhere in the second or third year, and it coincided with me having twins and I think there was something happening in Magnuss life as well, where I think the wives forced a discussion on us. So basically what happens is lets say, you have this great product that customers love. : If you are constantly looking at these numbers and chasing people when numbers are low, then after a certain point, people start looking at these numbers proactively. : So would it be possible to get us a weekly calendar? I dont know if you remember, where you said instead of focusing on problems, focus on people. Anything outside of it, we want it to be as local as possible. : So when we get a phone call and say hey, whats going in? We were a bit naive when it came to architecting how we work and the culture that we wanted. And weve had these cases now where we have actually internally debated some of these principles and when we go and interview someone and we find someone that is amazing and very tempting to get that person on board, but not the right values fit, then we have the courage to make the call and say, look, were happy to keep on looking until we someone thats a values fit. And, you know And its not something that is easy to do as well, right? Mudassir Sheikha: This is not going to happen without you owning it and driving it. What gets done in the country? : So should pricing be done at the city level with some advisory support from the country? Building upon his experience of working in a Silicon Valley early-stage VC fund, and a mobile testing startup that was acquired by $60 million, he started his mission to develop something meaningful after leaving a secure career at McKinsey. : So they were suffering from not even getting proper sleep in the early days. Mudassir says that when the offer came up, he and Magnus looked to their original purpose for guidance. Under Sheikha's leadership, Careem became one of the fastest-growing start-ups in the region, raising over $771 million in funding and reaching a valuation of over $2 billion. : Now the first two, well win by being local and well win by being speed automatically translate into empowering the front line as much as possible. 7 Of The Richest Sheikhs In The World - Sheen Services And the quality experience is the quality engagement part.