Karooooo, which owns Cartrack, is one of South Africa’s biggest tech success stories.
Cartrack is one of South Africa’s biggest tech success stories. Founded by Zak Calisto in 2004 and initially offering stolen vehicle recovery in South Africa, it grew into a multinational powerhouse with operations in 23 countries.
Cartrack separated from Netstar in 2004, and under Calisto’s guidance, it grew to become a powerhouse in tracking, data analytics, and business intelligence in South Africa. Caliso said it’s obvious to him now that no one really knows what they will be doing in ten years because technology is continuously improving.
“Then I just registered ‘Karoo’ with three o’s up to ten o’s — so now we own all those domains,” he said.In its latest quarterly results, Karooooo reported that its revenue reached nearly R1.1 billion, increasing by 16% compared to its September–November quarter in 2022.
Headline Johannesburg Stock Exchange (JSE) Karooooo NASDAQ Zak Calisto Motoring
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