Founded in 2012 by Mudassir Sheikha and Magnus Olsson, Careem began as a corporate car booking site to solve regional mobility challenges. It rapidly evolved into a massive ridesharing network, famously creating earnings for over 2.5 million Captains. In 2020, Careem became the Middle East's first tech unicorn following a staggering $3.1 billion acquisition by Uber.[32] Today, it operates as the region's ultimate 'everything app,' integrating mobility, food delivery, and digital payments across the MENAP region.