Skip to main content

Uber acquires Careem for $3.1 billion to dominate ride-hailing in the Middle East


Uber has acquired Careem, a major player in the ride-hailing space across the Middle East, for $3.1 billion in cash and convertible notes. The latter will continue to operate as an independent company. The news comes after weeks of rumors about the deal. It’ll see Uber gain a stake in 14 countries where Careem operates with more than 30 million users and 1 million drivers. That includes Saudi Arabia, the United Arab Emirates, Iraq, Qatar, Bahrain, Lebanon, Pakistan, Kuwait, Egypt, Morocco, Jordan, Sudan, Palestine, and Turkey. Uber has chosen not to rebrand Careem at this time. The new owner’s CEO,…

This story continues at The Next Web

Or just read more coverage about: Uber

from The Next Web https://ift.tt/2Fvammf
Labels:

Comments

Post a Comment

Popular posts from this blog

TNW Podcast: Boris comes over to co-host; Slack’s Cal Henderson talks European tech

 Welcome to the new episode of the TNW Podcast — the show where we discuss the latest developments in the European technology ecosystem and feature interviews with some of the most interesting people in the industry. In today’s episode, Andrii is joined by Boris Veldhuijzen van Zanten, co-founder, member of the board, and former CEO of TNW. The topics discussed include the jobs created by Dutch startups, giant state funding for energy projects, translations of the word ‘computer’, and a bunch of other things in between. In the interview section, we’re featuring a conversation with Cal Henderson, co-founder and… This story continues at The Next Web from The Next Web https://ift.tt/jUgcNFD
Post a Comment
Read more

Google’s ‘time crystals’ could be the greatest scientific achievement of our lifetimes

Eureka! A research team featuring dozens of scientists working in partnership with Google‘s quantum computing labs may have created the world’s first time crystal inside a quantum computer. This is the kind of news that makes me want to jump up and do a happy dance. These scientists may have produced an entirely new phase of matter. I’m going to do my best to explain what that means and why I personally believe this is the most important scientific breakthrough in our lifetimes. However, for the sake of clarity, there’s two points I need to make first: Time crystals are a… This story continues at The Next Web Or just read more coverage about: Google from The Next Web https://ift.tt/3fdRQlg
Post a Comment
Read more

Defining humanlike intelligence and entrusting it with our lives, explained by an AI researcher

TNW Answers is a live Q&A platform where we invite interesting people in tech who are much smarter than us to answer questions from TNW readers and editors for an hour.  Yesterday, Melanie Mitchell, the author of ‘Artificial Intelligence: A Guide for Thinking Humans’ and the Davis Professor of Complexity at the Santa Fe Institute, hosted a TNW Answers session where she spoke about how much we should really trust AI, her worries surrounding the technology, and defining humanlike intelligence in machines.  [Read: Chess grandmaster Gary Kasparov predicts AI will disrupt 96% of all jobs] Most fears around AI usually… This story continues at The Next Web from The Next Web https://ift.tt/2w7anvS
Post a Comment
Read more