Uber expands its influence across the Middle East region, with major markets including Egypt, Jordan, Saudi Arabia, and the UAE
Uber announced the acquisition of Careem for $3.1 billion. The company has become a wholly-owned subsidiary of Uber, preserving its brand. Careem and Uber will operate their respective regional services and independent brands.
The acquisition is expected to provide an opportunity to expand the variety and reliability of services offered through the applications.
The companies believe an increase in trip growth and improved services could provide better economic opportunities along with more predictable earnings through greater utilization of drivers’ time on the road.