extra

Brake or Turn? Seez Ponders its Direction at the Cusp of the Pandemic

Published 07 Jul 2021
Reference 6666
Industry Automotive
Region Middle-East
Summary

In March 2020, Tarek Kabrit, founder and CEO of Seez, the online car marketplace and aggregator, must determine how to proceed given the ongoing Covid-19 pandemic. His decision could make or break the company. It has secured US$6 million in funding from investors, closing a Series A round just before the pandemic hit, but the board is urging him to conserve cash to last through the uncertain times ahead by cutting salaries and headcount to reduce the burn rate and extend the company’s runway. Tarek, in contrast, sees the pandemic as an opportunity to develop a sophisticated technological capacity that rivals lack, and a chance to review the business model. With revenues in decline, how can he ensure they pick up? Can he continue to work on multiple products in the hope of finding market fit and new lines of revenue, or focus on building just one?

Teaching objectives

Understand the growth and evolution of an online car buying marketplace. Evaluate the nature and direction of strategic change needed during an industry-wide crisis.

Keywords
  • Automotive industry
  • Artificial intelligence
  • Car buying
  • Online marketplace
  • Middle East
  • Scaling
  • Start-ups
  • Entrepreneurship
  • Venture capital
  • Transportation
  • Covid-19
  • Crisis
  • Strategic change
  • Digital
  • Q32021