It was reported that Uber has acquired its Middle East competitor, Careem for $3.1 billion. According to the information our (Viewers Corner News) correspondent gathered, Careem will continue to operate under its own brand as a subsidiary of Uber. Also the $3.1 billion purchase consists of $1.7 billion in convertible notes and $1.4 billion in cash. Careem, Dubai-based ride taxi was established in 2012, and operates in about 15 countries across the Middle East, Asia and Africa.
Source: Viewers Corner News.