At the worst points of the coronavirus lockdowns, Careem's business was down by more than 80%, CEO Mudassir Sheikha told CNBC.
At the worst points of the coronavirus lockdowns, Careem's business was down by more than 80%, CEO Mudassir Sheikha told CNBC on Sunday.
The Dubai-based company, bought by Uber for $3.1 billion in 2019, is popular across the Middle East, South Asia and parts of Africa. At the worst points of the national lockdowns, the company's business was down by more than 80%, CEO Mudassir Sheikha told CNBC on Sunday. But while Careem may emerge from the crisis leaner, Sheikha said, it's still forging ahead with plans to expand its services, and is seeing some of those plans accelerate as demands of the "new normal" create new opportunities.
Sheikha recognized that, as well as the time it may take for business to rebound. "Unfortunately, the core business of people transport has been impacted significantly, and it is our view that while this business is starting to recover it will probably take until sometime next year for a full recovery to happen, and that business will remain a little bit smaller than what we had built.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Fed relief programs end by 2021 as debt reaches 'tipping point': KKR - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Weiterlesen »
Athletic Bilbao coach Garitano handed contract extensionAthletic Bilbao manager Gaizka Garitano has renewed his contract until June 2021, the Spanish club said in a statement on Sunday.
Weiterlesen »
If You Have a Loved One Who's Suffering From Schizophrenia, Know That There's HopeShortly after my younger brother was born, my family uprooted our life in Chicago and moved back to sunny Southern California, where we stayed with family
Weiterlesen »
Could a fifth of America’s colleges really face the chop?Eight American colleges were already closing each year before the pandemic hit
Weiterlesen »
Trump calls for delay in Group of 7 meeting, seeks expansionWASHINGTON (AP) — President Donald Trump said Saturday he will postpone a meeting of Group of 7 nations until fall and called for an expansion of the group's membership because he considers it an...
Weiterlesen »
5 Postrun Stretches You Can Do Standing UpDo these five moves right after your race to jumpstart recovery and reduce soreness.
Weiterlesen »