Home / NEWS / Uber Acquires Careem, Dubai cab enterprise in a $3.1 Billion Deal!

Uber Acquires Careem, Dubai cab enterprise in a $3.1 Billion Deal!

There are indications that on demand taxi platform, Uber Technologies will be announcing a $3.1 billion cash-and-share deal to acquire its Dubai-based rival, Careem Networks this week.

According to Bloomberg, inside sources report that the U.S. ride-hailing giant will pay $1.4 billion in cash and $1.7 billion in convertible notes (equal to $55 per share) for Careem.

The report also has it that Careem shareholders, Saudi Prince Alwaleed bin Talal’s investment firm and Japanese e-commerce company, Rakuten Inc., could agree to the terms of the transaction by Monday evening and a deal could be announced as soon as Tuesday.

However, Uber spokesperson, Matt Kallman is yet to confirm the deal.

Why the deal?

This development comes ahead of Uber’s expected Initial Public Offering (IPO) on the New York Stock Exchange in April. According to commentators, the anticipated listing could value the company for as much as $120 Billion, one of the NYSE’s biggest ever offerings. Careem would certainly be a good addition to the value of the company.

Similarly, this move will also aid Uber’s in-road to the Middle-East. According to Bloomberg, “for Uber, a deal would signal its commitment to the Middle East, where one of its biggest investors, a Saudi Arabian sovereign wealth fund, is based.”

How much is Careem really worth?

Careem was valued at about $1 billion in a 2016 funding round. This made it one of the most valuable technology startups in the Middle East. Analysts have noted that the company is expected to have doubled in value over the span of 3 years.

According to its website, Careem has over a million drivers and operates in more than 90 cities in 15 countries (Sudan, Iraq, Palestine, Turkey, Jordan, Morocco, Egypt, Kuwait, Pakistan, Lebanon, Bahrain, Saudi Arabia, Qatar and the UAE).

About Dotun Roy

DotunRoy.com is a development driven news website with the overall goal of amplifying, promoting and advocating for positive societal change through Sustainable Development advocacy in line with UN SDGs components such as education, environmental sustainability and Climate Change, Human Rights, health, finance, housing, good governance as well as security in Nigeria and across the world.

38 comments


Strict Standards: Only variables should be assigned by reference in /home/dotunroy/public_html/wp-content/themes/jarida/comments.php on line 21
  1. Online No Scrip Cialis Amoxicillin 875mg Tablet Acyclovir 800 Mg Tablets For Sale comprar viagra alicante Tomar Cialis Sin Necesitarlo discount generic accutane

  2. Prezzi Viagra In Farmacia buy levitra generic online Precio Viagra 100 Mg Metronidazole Pills Online Overnight

  3. Sildenafil 50mg Propecia Billig Kaufen viagra france livraison rapide Durer Plus Longtemps Au Lit Cheap Viagra 100mg To Buy In Canada Nolvadex Acheter

  4. Viagra Addio Want To Buy Amoxicilina Antibiotic Over Night Tennessee Levitra Se Necesita Receta Medica cheapest cialis 20mg Buy Amoxicillin 500mg Capsules

  5. Viagra Espagne Achat Cialis Par Cheque Buy Celebrex Online cheapest cialis 20mg Propecia Merck Farma

  6. Viagra Homme Heureux Vente De Viagra Sans Ordonnance cialis 20mg for sale Kitten Amoxicillin Dosage Viagra Pills Mexico

  7. Fedex Acticin Purchase Overseas Derby Propecia Toxicidad Viagra Generico 50 cialis 5 mg Nebenwirkungen Von Viagra Prix Cialis 20mg En Pharmacie Zithromax Age Limit

  8. Acheter Du Clomid En Ligne Avec Pflanzliches Viagra Nebenwirkungen Noscript Meds Canada best site to buy levitra Kamagra Rezeptfrei Berlin Propecia 08

  9. Cialis Levitra Propecia viagra Cialis Hace Falta Receta

  10. Cats On Amoxicillin viagra online pharmacy Viagra Falschung Erkennen Amoxicillin Allergy Symptoms Org

  11. Medrol Over The Counter Options cialis 20mg price at walmart Alli Diet Pill Mexico

  12. Viagra Pills Buy Generic Levitra Soft Tabs viagra online pharmacy Tadalafil Without Perscription Propecia Canada Pharmacy

  13. Viagra order a prepaid visa Cephalexin 500mg Capsule Side Effects where to buy cialis online safely Viagra Online Sales Acquistare Kamagra A Buon Mercato

  14. Mercalm Medication buy canadian finasteride 1 mg 150mg Clomid 50mg Cialis Corazon

  15. Zithromax Elixir Zithromax Abuse Amoxicillin Dosage For Preschoolers generic cialis Achat Cialis Site Securise Original Cialis Deutschland

  16. Zithromax Rx generic levitra 20mg Cialis Generique Quality Occasion Du Levitra Cephalexin Side Effects In Dogs

  17. Cialis E Viagra Effetti Generic For All Buy Azithromycin Fast Shipping Achat Levitra Cialis 10 Mg Tadalafil

  18. Generico Propecia Comprar Kidney Infection Can Amoxicillin Cause Acticin Scabies cialis 20mg for sale Securetabs Dapoxetina Svizzera

  19. Medicamento Cialis 10 where to buy cialis online safely Levitra 20 Mg Risultati Discount Nexium

  20. Does Propecia Work viagra Cialis 10 Mg Forum Baclofene Bernard Granger

  21. Levitra 10mg Blog buy cialis Acheter Cialis Generique Canada

  22. Kamagra 100 Mg Keflex Antibiotic Priligy 121 generic cialis Where To Buy Diclofenac Sodium Zithromax Syrup Avana Pills

  23. What Is Extra Super Avana Cephalexin And Birth Control buy viagra Dapoxetina Svizzera

  24. Compra Cialis Online Tips Last Longer cialis 20mg price at walmart Onlinepharmacy Echeck

  25. Best Secure Canadian Pharmacy Levitra Cura La Disfuncion Erectil Keflex Liquid levitra generique en france Generic Cialis 20mg Buy Kamagra Online In Uk

  26. Sale generic isotretinoin c.o.d. website viagra Potenzmittel Viagra Cialis Und Kamagra Can You Buy Lexapro 10 Mg

  27. Euro Levitra In Farmacia Priligy Mercadolibre Ecuador Tamoxifene Arrow viagra Achat Kamagra Metz Existe Priligy Generico Isotretinoin 10mg overseas low price

  28. Potenzmittel Viagra Cialis Und Kamagra Priligy Uruguay buy generic cialis online Cialis Duracion

  29. Mail Order Doxycycline Aurora buy viagra Forum Viagra 25 Cialis No Falla

  30. Osu Levitra Pharmacie Il Viagra Fa Male Al Fegato cialis online References On Amoxicillin Battling Anxiety Nhs Cipro Online No Prescription Overnight

  31. Cheap Mexican Pharmacy Neurontin Acheter Cialis Par Telephone Christie Brinkley Retin A buy viagra online Prix De Xenical Best 10 Online Pharmacies

  32. buy accutane online no prescription Cialis Tratamiento Impotencia

  33. Length Of Levitra Patent Propecia Merck Serono Vendo Cialis Original Y Generico Gta Propecia Generic 15mg

  34. Que Es El Medicamento Propecia Viagra Online Bestellen Gunstig Overnight Viagra Oders cialis no prescription Chyavanaprasha

  35. Cialis Original De La India levitra germany priligy Comprar Cialis En Zaragoza Viagra Ebay On Line Stendra Mail Order Pills Wolverhampton

  36. Levothyroxine Without A Script Lamictal cialis Buy Doxycycline Medication Online Is Amoxicillin Effective For Abcesses Cialis 5 Mg Generico Online

  37. Potenzmittel Kamagra Nebenwirkung Sirve Propecia viagra Viagra Meltabs Indian Pharmacies That Accept Paypal

  38. Propecia Vente France levitra prices Affective Propecia Doses Cialis 20 Mg Filmtabl 12 St

Leave a Reply

Your email address will not be published. Required fields are marked *

*