Uber acquires Mideast competitor Careem for $3.1 billion

Uber acquires Mideast competitor Careem for $3.1 billion

Uber Technologies will spend $3.1 billion to acquire Middle East rival Careem. Uber said Monday it would pay $1.4 billion in cash and $1.7 billion in convertible notes in a deal that gives it full ownership of Careem. The long-expected agreement ends more than nine months of negotiations. Careem has a larger presence than Uber in the Middle East, North Africa, Pakistan, and Turkey.

Timothy
Timothy
Danny Mcgrath
Danny Mcgrath 1 year

Is Kareem named after all the drivers?

beanie weaine
beanie weaine 1 year

I think I’ll start a transportation service so I can get bought out as well. Seems like easy money.

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