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Tuesday, October 4, 2022

Uber May Sign $3.1 Billion Deal To Buy Careem

Uber is set to buy its Middle Eastern rival Careem for $3.1 billion, financial news agency Bloomberg reported Sunday.


The deal, expected to be announced Tuesday, will see Uber pay $1.4 billion in cash and the rest in notes convertible to Uber shares, Bloomberg reported, citing people with knowledge of the matter.


Uber May Sign $3.1 Billion Deal To Buy Careem


It comes as Uber prepares for its initial public offering — expected next month — which could, according to some estimates, see the rideshare giant’s value increase to $100 billion.


Dubai-based Careem boast more than a million drivers and 30 million users across 90 cities.

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