Uber Technologies is in discussions to buy its Dubai-based rival Careem Networks for about $2 billion to $2.5 billion as the ride-hailing giant expands in the Middle East, Bloomberg reported.
News, Software
Egypt lifts ban on Uber and Careem
An Egyptian court ruled to revoke the suspension of the licenses of ride-hailing companies Uber and Careem, allowing them to continue their work, Reuters reports citing judicial sources said. 0 1949
Japanese carmaker signs $500M driverless car deal with Uber
Toyota Motor will reportedly invest $500 million in Uber Technologies to jointly work on developing self-driving cars, the companies announced recently.
From four wheels to two: Uber diversifies offerings
Uber is planning to shift from cars to electric bicycles for shorter journeys as part of its long-term strategy, according to the ride-hailing firm’s CEO Dara Khosrowshahi.
Dubai free zones team up for tech sustainability drive
Dubai Internet City (DIC) and Dubai Science Park (DSP) teamed up to bring back the e-waste collection drive to their communities in collaboration with Uber and Averda.
Dubai’s Careem to enter food business with $150M fund raising round
Middle East ride-hailing app Careem is reportedly in talks to raise as much as $150 million from existing investors to launch its food delivery business as early as September.
What the Uber-Careem deal says about Middle East startup culture
The MAGNiTT Exit report in 2017 revealed that there was a total of 60 startup exits – the point an investor (usually a venture capitalist) sells their stake in a firm to realise their gains – across the MENA in the years of 2012 to 2017.
Analysts: Uber-Careem deal in the interest of the industry
The last two and half years haven’t been easy for Uber Technologies. Post the exit of its former CEO Travis …
Middle East unicorn Careem responds to merger talks
Uber is reportedly in “preliminary talks” with local competitor Careem to strike a deal that would see the two companies merge.
Uber in talks to merge with Dubai-based Careem
Uber Technologies is in preliminary talks with rival Careem to combine their Middle Eastern ride-hailing services, Bloomberg reported, citing three people familiar with the matter.
Saudi women take the wheel as driving ban officially ends
Women in Saudi Arabia can now legally get behind the wheel of a car for the first time as the kingdom lifts its longstanding ban on women driving.