Uber has acquired Careem, the biggest ridehailing company in the Middle East. Uber acquired Careem for $3.1 billion and will make it a wholly-owned subsidiary of Uber, operating as an independent company under the Careem brand and still led by the Careem founders. The transaction itself is expected to close in the first quarter of… Continue reading Uber buys Middle-East rival Careem
Tag: Uber
Uber Buys Middle East Rival Careem for $3.1B
The Careem brand and app will remain the same, and the Careem co-founders will stay on with the company. Photo via Uber. Uber announced Monday that it will spend $3.1 billion to buy Middle East ride-hailing group Careem, Reuters reports. The San Francisco-based ride-hailing firm will pay $1.4 billion cash and $1.7 billion in convertible… Continue reading Uber Buys Middle East Rival Careem for $3.1B
Uber is buying Middle Eastern ride-sharing rival Careem for $3.1 billion
Uber has announced that it’s buying Careem, a rival ride-sharing service that operates across 98 cities in the Middle East, Africa, and southern Asia, for $3.1 billion. The New York Times notes that Careem will continue to operate as a separate brand, with a board of directors consisting of a mix of Uber and Careem… Continue reading Uber is buying Middle Eastern ride-sharing rival Careem for $3.1 billion
Uber is paying $3.1BN to pick up Middle East rival Careem
After months and months of rumors it’s finally been confirmed that ride-hailing giant Uber is picking up its Middle East rival Careem in an acquisition deal worth $3.1 billion — with $1.7BN to be paid in convertible notes and $1.4BN in cash. Careem was founded as a ride-hailing rival to Uber in 2012 but has… Continue reading Uber is paying $3.1BN to pick up Middle East rival Careem
Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East
SAN FRANCISCO (Reuters) – Global ride-hailing firm Uber Technologies Inc will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering. The Uber Hub is seen in Redondo Beach, California, U.S., March 25, 2019. REUTERS/Lucy Nicholson Uber said late Monday night… Continue reading Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East
Yandex inks deal with Hyundai to build self-driving car tech for its Mobis OEM division
On the heels of Hyundai becoming the latest investor in Ola, today another key deal was revealed that underscores Hyundai’s ambitions in next-generation automotive services. Yandex, the Russian search giant that has been working on self-driving car technology, has inked a partnership with Hyundai to develop software and hardware for autonomous car systems. While companies like… Continue reading Yandex inks deal with Hyundai to build self-driving car tech for its Mobis OEM division
Uber drives Middle East mapping push ahead of IPO: source
BENGALURU (Reuters) – Uber Technologies Inc is six months into a major mapping project that fills holes in its coverage of Middle Eastern cities ahead of a possible takeover of regional rival Careem Networks and this year’s hotly anticipated initial public offering, according to a source with knowledge of the project. FILE PHOTO: Uber’s logo… Continue reading Uber drives Middle East mapping push ahead of IPO: source
Flying taxi startup Blade is helping Silicon Valley CEOs bypass traffic
One year after a $38 million Series B valued on-demand aviation startup Blade at $140 million, the company has begun taxiing the Bay Area’s elite. As part of a new pilot program, Blade has given 200 people in San Francisco and Silicon Valley exclusive access to its mobile app, allowing them to book helicopters, private… Continue reading Flying taxi startup Blade is helping Silicon Valley CEOs bypass traffic
How Nuro plans to spend Softbank’s money
Autonomous delivery startup Nuro is bursting with ideas since SoftBank invested nearly $1 billion in February, new filings reveal. A recent patent application details how its R1 self-driving vehicle could carry smaller robots to cross lawns or climb stairs to drop off packages. The company has even taken the step of trademarking the name “Fido”… Continue reading How Nuro plans to spend Softbank’s money
One year after Uber’s fatal self-driving crash, pedestrians aren’t any safer
One year ago this week, a distracted driver behind the wheel of an SUV struck and killed a 47-year-old woman as she attempted to walk across a street. The woman was Elaine Herzberg, and the SUV was a self-driving car operated by Uber. Herzberg was one of 6,227 pedestrians killed last year on U.S. streets,… Continue reading One year after Uber’s fatal self-driving crash, pedestrians aren’t any safer