Chapter 2 – Joining Forces
Careem and Uber are joining forces. We have reached an agreement in which Uber will acquire Careem for $3.1 billion.
Careem will become a wholly owned subsidiary of Uber, operating independently with its own brand and services. Careem will retain the name, app, branding and everything you love about us - we’re here for you.
Across our fast growing, young and vibrant region, we are seeing the transformative impact of technology on mobility and improved services. Joining forces with Uber accelerates our collective ability to improve the region’s transportation infrastructure at scale and offer diverse mobility, delivery and payment options.
Uber has achieved great success in the region and shares our ambitions to have a positive impact in the communities we serve. We’re excited about what we can achieve together.
We are still Careem, driven by our purpose – to simplify and improve lives and create an awesome organisation that inspires.
What does this mean for Careem?
We protect our purpose and values
Careem’s founders will continue to lead the business. Careem will retain its name, brand, and identity. In terms of the service you know and love, nothing will change. With Uber we have a partner that is well-resourced and aligned with our vision and values. Uber has been very successful in the region and shares our ambition to simplify and improve even more lives.
We accelerate our vision
We accelerate our vision and collective ability to pursue the platform opportunity and leapfrog our region into the digital future. Careem and Uber will be able to focus on increasing the size of the market where there is a surplus of opportunity, simplifying and improving even more lives, in more ways.
We boost the regional technology ecosystem
As the largest ever technology-industry transaction by valuation in our region, this is a milestone moment that will provide the stimulus to grow the regional digital ecosystem and attract more foreign investment.