Uber to buy Dubai rival Careem for $3.1 billion

Uber is to acquire Dubai-based rival Careem for $3.1 billion in a move that will expand its presence in the Middle East, Africa and Asia. The deal would allow Uber to acquire Careem’s mobility, delivery and payments in countries from Morocco to Pakistan. Dara Khosrowshahi, Uber CEO, says: “This is an important moment for Uber as we continue to expand the strength of our platform around the world.” Uber says the transaction will speed up the delivery of digital services to people in the region through t
March 27, 2019 Read time: 2 mins

8336 Uber is to acquire Dubai-based rival Careem for $3.1 billion in a move that will expand its presence in the Middle East, Africa and Asia.

The deal would allow Uber to acquire Careem’s mobility, delivery and payments in countries from Morocco to Pakistan.

Dara Khosrowshahi, Uber CEO, says: “This is an important moment for Uber as we continue to expand the strength of our platform around the world.”

Uber says the transaction will speed up the delivery of digital services to people in the region through the development of an app that offers services such as Careem Pay, a digital payment platform, and a last-mile delivery service called Careem Now.

Once the transaction is closed, Careem will become a wholly-owned subsidiary of Uber but will maintain its own brand and be led by its co-founder and CEO Mudassir Sheikha.

The deal, subject to the usual regulatory approvals, is expected to close during the first quarter of 2020.

UTC

Related Content

  • April 2, 2019
    Bolt launches dockless e-scooters in Madrid
    Bolt, the ride-share company which was formerly called Taxify, has launched electric kick scooters in central Madrid. The firm piloted the vehicles in Paris last year – making it the first to combine scooter sharing and ride-hailing together in one mobile app, Bolt claims. “Beating the traffic is a big issue in cities like Madrid and a lot of trips are much more efficiently covered with an electric scooter rather than a car with a driver,” says Markus Villig, CEO and co-founder of Bolt. He says the dep
    Read More
  • June 2, 2014
    Strike action prompts commuters to try something different
    David Crawford highlights responses to transit disruption on both sides of the Atlantic. Shortly before workers at San Francisco Bay Area Rapid Transit (BART) began a lengthy round of pay and conditions-related strikes in summer 2013, impacting on the daily lives of 400,000 communities, online ridesharing group Avego publicised a new web address: bartstrike.com. By the start of the following week, Avego was encouraging stranded commuters to download its smartphone app by offering them the chance in a raffle
    Read More
  • September 27, 2021
    CCAM innovation at ITS World Congress 2021
    We live in an era of increasingly cooperative, connected and automated mobility (CCAM) but there’s still a huge way to go - visitors to ITS World Congress in Hamburg will be able to see projects, innovations and real-life solutions showcased in the city
    Read More
  • November 5, 2021
    The world was your Oyster
    Embracing digital payments and transparent journey planning is key to changing traveller behaviour and accelerating integrated public transport, says Martin Howell of Worldline
    Read More

Highlighted Content