Uber, Careem deal

Uber, Careem deal

UBER last week closed its previously announced $3.1 billion acquisition of transportation network Careem Networks (TD 27 Mar 2019).

Careem will become a wholly owned subsidiary of Uber, preserving its brand, with its leader Mudassir Sheikha now reporting to a board made up of three Uber representatives and two Careem reps.

The ride-hailing platform serves customers across the Middle East, and is Uber’s largest purchase.

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Source: traveldaily