Uber and Careem to Merge Services in Middle East

Uber and Careem to Merge Services in Middle East

Ride-hailing services Uber and Careem are in initial talks to combine their services in Middle East. Uber has sold its business to Grab in Southeast Asia, Russia and China. Uber and Careem to Merge Services in Middle East

Uber’s CEO, after the deal with Grab, told that

we take on too many battles across too many fronts with too many competitors.

According to Uber Chief Executive Officer Dara Khosrowshahi, Uber would come out on top in India, the Middle East and Africa.

Uber and Careem to Merge Services in Middle East

Khosrowshahi said:

We are going to be, I believe, the winning player in those markets and we’re going to control our own destiny.

According to some posts, the two ride-hailing services had many discussions about a merger in the region. However, they are yet to reach an agreement as Uber prepares for a public offer in the coming year. Furthermore, there are several proposals that Uber has made to Careem.

Careem is running in more than 70 cities across 10 countries including Pakistan. It is planning to increase $500 million at a valuation of $1.5 billion as well. It is also reportedly in talks with banks over an initial public offering in January. One proposal says that Uber might acquire Careem, however, this is unlikely to happen.

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