Uber’s acquisition of Careem to fetch more than half a billing dollar investment in Pakistan: Report

Uber’s acquisition of Careem to fetch more than half a billing dollar investment in Pakistan: Report
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ISLAMABAD - Uber’s acquisition of Careem is expected to bring in more than half a billion dollars in investment in Pakistan, Careem officials told ProPakistani.

The amount includes the investment value of employees’ stock options and shares, and other related assets of Careem in Pakistan.

The deal between the two ride-hailing companies has settled at $3.1 billion. Careem’s operations are spreading in different countries of the Middle East including Pakistan. According to the plan, Uber will take over Careem as its subsidiary however the company will remain functional as an independent organization.

Careem’s leadership is excited about its expansions in Pakistan as it is going to launch a bus service in the next three months aimed at different strata of the society for meeting their needs of commuting and traveling within the city and within the country, said Asad Haider Khan General Manager South at Careem during a recent media meet-up in Karachi.

Accordingly, customers will be able to book their seats in the buses through Careem’s App and reach their nearby stops at the given time.

Economy