Talks are reportedly ongoing for a future merger.
A report by Bloomberg said that ride-sharing apps in the region Careem and Uber are in talks about a possible merger. This news comes as Uber is preparing to go public next year.
Uber has already sold its operations in Russia, China, and Southeast Asia to more dominant local services. The talks between Careem and Uber have been going on for a while, but haven’t come to an agreement at the moment.
One proposal Bloomberg reported is that Uber will be merging with Careem with the latter managing day-to-day business. Another is that Uber could possibly acquire Careem.
Locally-based in the UAE, Careem has had its own share of success and is one of the top startups to come from the region. The company is currently in talks with various investors to raise $500 million, valuing Careem at $1.5 billion.
Uber hasn’t released a statement on the matter while Careem simply mentioned that its focus at the moment is on its expansion in the region.