Category: careem

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Uber just made the largest tech deal in Middle East history

sudshr47 March 26, 2019

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Uber spent $3.1 billion to dominate competition in the Middle East. 

It announced Tuesday that it reached an agreement to buy Dubai-based Careem, which operates in 15 countries including Morocco, Pakistan, Egypt, Jordan, Pakistan, Saudi Arabia, and the United Arab Emirates.

The deal was for $1.4 billion in cash, $1.7 billion in loans — and marks the biggest tech industry deal in the region outside of Israel, according to the Associated Press. 

The company will operate with its two co-founders under Uber as its own brand — for now. On Careem’s website, the company wrote, “We are still Careem.” Read more…

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Two years after a first close, 500 Startups wraps its Middle East fund with $33 million

sudshr47 March 26, 2019

When 500 Startups partner Hasan Haider announced the $15 million first close for the accelerator and investment firm’s Middle Eastern focused fund, 500 Falcons, Dave McClure was still at the helm of Silicon Valley’s second most famous accelerator. Within a month, McClure was removed from the accelerator after admitting to sexual misconduct and 500 Startups […]

View More Two years after a first close, 500 Startups wraps its Middle East fund with $33 million
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Uber is paying $3.1BN to pick up Middle East rival Careem

sudshr47 March 26, 2019

After months and months of rumors it’s finally been confirmed that ride-hailing giant Uber is picking up its Middle East rival Careem in an acquisition deal worth $3.1 billion — with $1.7BN to be paid in convertible notes and $1.4BN in cash. Careem was founded as a ride-hailing rival to Uber in 2012 but has […]

View More Uber is paying $3.1BN to pick up Middle East rival Careem
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Careem launches delivery service as it nears closing a massive round

sudshr47 December 17, 2018

The ride-hailing giant Careem is now in the delivery business as the company seeks new verticals in its ever-increasing fight against other services in the Middle East including Uber. Starting with food delivery in Dhabi and Jeddah, the company sees the delivery service expanding to pharmaceuticals according to a report by Reuters. Careem is investing […]

View More Careem launches delivery service as it nears closing a massive round
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Unifonic, dubbed the Twilio of emerging markets, closes $21M Series A round

sudshr47 October 17, 2018

Those of you familiar with the incredible rise of Twilio, which came along to utterly disrupt the communications world, will be interested to hear that another player plans to do the same, but this time in the staid and tricky area of emerging markets. Unifonic, which has been dubbed “the Twilio of emerging markets” has […]

View More Unifonic, dubbed the Twilio of emerging markets, closes $21M Series A round
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Saudi ally calls for Uber boycott over response to Khashoggi’s vanishing

sudshr47 October 15, 2018

Uber is facing calls for a boycott of its app in the Persian Gulf, a region that has poured billions of dollars of investment into the company’s ride-hailing business in recent years: Directly via Saudi Arabia’s Public Investment Fund (PIF) and indirectly because the Saudis are major investors in Softbank’s Vision Fund vehicle, which is another big Uber […]

View More Saudi ally calls for Uber boycott over response to Khashoggi’s vanishing
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We’re kicking off Startup Battlefield MENA, here are the startups and agenda

sudshr47 October 3, 2018

We’re kicking off Startup Battlefield MENA here in Beirut, where 15 startups will be taking the stage, along with speakers from Facebook (our partner on the event through its FB Start program), Instabug, Eventus, Wuzzuf, Careem and Myki. For those of you who can’t be here in person, check back on TechCrunch later today, where […]

View More We’re kicking off Startup Battlefield MENA, here are the startups and agenda
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China’s Didi Chuxing launches taxi-hailing service in Japan

sudshr47 September 27, 2018

China’s Didi Chuxing is fighting fires at home around passenger safety, but overseas the ride-hailing giant has moved into another new market after its taxi-booking service began operations in Japan. The service has gone live in Osaka, the city of nearly nine million people, and parts of the surrounding area including Kansai International Airport. The Didi […]

View More China’s Didi Chuxing launches taxi-hailing service in Japan
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Middle East’s Careem is the latest ride-sharing unicorn to get an India-based tech team

sudshr47 September 24, 2018

India is the new tech outsourcing destination for ride-hailing companies. Southeast Asia’s Grab and Go-Jek both have sizable engineering teams in the country, and now that duo is joined by another billion-dollar company. Careem, which is based in the Middle East and valued at over $1 billion, has entered the fray after it snapped up the […]

View More Middle East’s Careem is the latest ride-sharing unicorn to get an India-based tech team
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Taxify is entering the e-scooter game

sudshr47 September 6, 2018

Estonian ride-hailing company Taxify will compete with Bird and Lime in Europe with its new brand of e-scooters, called Bolt, launching in Paris on Thursday.

The company has rolled the scooter sharing service into its mobile app, which has attracted 10 million users in 25 countries since it launched in August 2013.

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China’s Didi Chuxing is close to launching a taxi-booking service in Japan

sudshr47 July 19, 2018

Days after raising $500 million via a strategic investment from travel giant Booking Holdings, Chinese ride-hailing giant Didi Chuxing has continued its international push with the launch of a local business in Japan. Its new Japan-based unit is a joint venture with SoftBank, a longtime Didi investor, which has been in the works since an announcement back […]

View More China’s Didi Chuxing is close to launching a taxi-booking service in Japan