Why Is Uber Buying Careem?

Global ride-hailing giant Uber has agreed to acquire its Middle East rival Careem in a $3.1 billion dollar deal, ahead of its hotly anticipated initial public offering. Since its beginning, Careem has raised around $800 million from investors. Its backers include German car maker Daimler AG, Japanese internet company Rakuten, Chinese ride-hailing company Didi Chuxing, […]

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