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Expanding services across its platform to include mass transportation, delivery and payments

Expanding services across its platform to include mass transportation, delivery and payments

We are the internet platform for the greater Middle East region. A pioneer of the region's ride-hailing economy, we are expanding services across its platform to include mass transportation, delivery and payments to become the region's everyday SuperApp. We were established in July 2012, and acquired by Uber in 2019. We operates in 120 cities across 15 countries and have created more than one million employment opportunities in the region.
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Egypt competition watchdog approves Uber acquisition of Careem with conditions

  • U.S.
  • 5 months ago

Egyptian regulators have approved Uber's $3.1 billion acquisition of regional rival Careem after agreeing to a set of commitments proposed by the U.S.-based ride-hailing service meant to reduce harm to competitors. The Careem acquisition was announced in March after more than nine months of talks between the two companies, handing Uber a much-needed victory after a series of overseas divestments.

The deal is expected to close in January, depending on regulatory approval in various territories of which Egypt is among the most significant. Egypt, with a booming population seen swelling to 100 million, is the biggest in the Middle East for ridehailing services.

Careem will become a wholly owned subsidiary of Uber but will continue to operate as an independent brand with independent management.

Egypt competition watchdog approves Uber acquisition of Careem with conditions
Founder Careem • Worked at @McKinsey & Co • Studied at @Stanford University
Founder enwani • Worked at @sap-ag, @Mercedes-Benz
Valuation

$1B

Funded over

2 rounds

Latest round

Series E (Jun 2017)