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
Tag: Uber
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
Indonesia’s Kargo comes out of stealth with $7.6M from Travis Kalanick, Sequoia and others
Travis Kalanick may be busy cooking up a cloud kitchen business, but that hasn’t stopped the former Uber CEO’s VC fund from making its first investment in Southeast Asia. 10100, the firm that Kalanick launched last year for investments in Asia, just took part in a $7.6 million seed round for Kargo, an early-stage “Uber… Continue reading Indonesia’s Kargo comes out of stealth with $7.6M from Travis Kalanick, Sequoia and others
Uber ‘picks NYSE’ for huge stock listing
Ride-hailing firm Uber will list on the New York Stock Exchange, according to reports, in one of the most anticipated stock debuts of the year. The decision to opt for the Wall Street exchange over the tech-heavy Nasdaq was first reported by Bloomberg, citing sources. It comes as smaller, ride-sharing rival Lyft prepares to list… Continue reading Uber ‘picks NYSE’ for huge stock listing