Uber to acquire Careem?

RetailME Bureau

Global transportation network company Uber is, reportedly, in talks to acquire its Middle East rival Careem. While negotiation is on, no agreement has been reached yet.

As part of the deal, Careem, which now boasts over 30 million customers, has been valued at $3billion.

While preliminary discussions started towards mid of 2018, fresh talks come close on the heels of another recent acquisition in the region – as Zomato sold its food delivery business in the UAE to Talabat. It is interesting that both Uber and Careem also have their food delivery platforms – Uber Eats and Careem Now, respectively.

Sources referred: Bloomberg and CNN Business