The Sudden Rise of Arab Startups
- $3 billion raised last year in Persian Gulf for tech firms
- After Amazon and other outsiders invested, locals woke up
This article is for subscribers only.
In the rapidly evolving gig economy, there is a new way to car shop: spot one on the road that appeals, snap its photo with your phone and an app will contact sellers of similar cars near you and negotiate the lowest price -- all within a few minutes.
It’s remarkable not only for its technique but its location -- Dubai. A few months ago, Tarek Kabrit, co-owner of Seez, the startup that makes the app, left a stellar career that included stints at Deutsche Bank AG and the Abu Dhabi sovereign fund Mubadala Investment Co. to focus on his new venture.