| Uber may buy Careem, its rival in the Middle East
Yet another sign of how companies/investors are betting big on the future of ride-hailing services. Close on Lyft's announcement, we have news of Uber spending big to buy their rival in the Middle East. Quote:
Uber may be close to spending billions of dollars to buy its big rival in the Middle East.
The company is reportedly in talks to acquire Careem, a startup based in Dubai that has grown into the biggest ride-hailing app in the Middle East since it was founded in 2012.
Careem now has more than 30 million customers and its local knowledge and home-field advantage have made life tough for Uber since it entered the market in 2013.
| Quote:
In 2017, Daimler invested in Careem a few months after it announced it would work with Uber to introduce self-driving cars on its network.
The Saudi government is riding both horses, paying $100 million for a stake in Careem in 2016 and pouring $3.5 billion, the most from a single investor, into Uber the same year.
| https://edition.cnn.com/2019/03/06/t...ger/index.html | 
6th March 2019, 21:32
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