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Uber Expected Deal to Buy Careem This Week

You may hear about a Great expected deal of uber buy careem. This event is considered one of the most widespread events this week due to the importance of Uber company and Careem to the customer. In this article, let us explain the details of this transaction and the history of Uber and Careem.

The Expected Deal

Uber Technologies Inc. is set to announce a $3.1 billion cash-and-share deal to acquire its Dubai-based rival Careem Networks FZ as early as this week, according to people with knowledge of the matter.

Some Sources said that shareholders in Careem, including Prince Alwaleed Bin Talal Investment Company and Japanese e-commerce company Rakuten Inc., Agreed to the terms of the deal on Monday.

Uber is expected to acquire Careem before the initial public offering, one of the largest listed companies in the New York Stock Exchange. Uber is expected to present a public profile of the initial public offering in April, leading a list that could estimate the company as much as $ 120 billion, according to some sources.

The acquisition will be a welcome boost to the emerging Middle East startup market and comes after Amazon.com acquires Dubai-based online retailers for $ 580 million in 2017.

It is not the first time to uber tries to acquire other companies. In China, it tries to acquire DiDi company but this lead to a war between two companies. 

In 2015, There was a meeting indicated a director of Chinese DiDi Cheng Wei and manager of the company Uber Travis. Travis said to Cheng Wei “we will buy 40% from DiDi and upper will leave Chinese market for Didi Cheng said “Foreign companies see China as a territory to be conquered”

Then, some companies have the same activities open in China like  Kuaidi Dache and Kuaidi. Those companies with DiDi began to compete Uber by adding new offers to their funding companies and they get very high traffic. 

In 2016, Uber announced that will invest in China with more than 1 billion dollars and acquire 80% of private cars and 99% of the taxi. August 2016 Didi announces that it will buy Uber China for 17% from DiDi with an investment of 1 billion dollars. then Cheng Wei became Member of the board of directors. upper lost over the past two years, more than 2 billion dollars. In China 20% for a share of the market.

Uber

It is a transportation network company headquartered in San Francisco, California. Uber offers services including peer-to-peer ridesharing, ride service hailing, food delivery, and a bicycle-sharing system. The company has operations in 785 metropolitan areas worldwide.

In 2008, Travis and Garrett were attending the LeWeb conference in Paris and were standing in the rain. they did not get a taxi The idea started that they were working. The company solved the problem. The name and reservation were UBERCAB. The company started with 3 vehicles and $ 200,000 in New York City.

In 2010, the company had financed the 12.5 million dollars first began to expand in America from city to city and then along they have funding of 11 million dollars. The company remained 60 billion dollars the company entered the San Francisco have a great spread, and start grows up.

Then, they take Funding of 32 billion dollars. The investors Jeff Bezos and then along the Google company invested 25.8 million dollars, and it became the greatest companies to get funding and attract investments. Total funding became 24.4 billion dollars. 

Uber is currently located in 65 States, representing a total of 600 cities, more than 15 million flights a day in uber. Uber from which of 10 billions flight hours. The average paid to drivers $364 a month. It has more than 3 million drivers and 75 million users. In 2016, the company lost $2.8 billion dollars. in 2017, lost 4.5 billion dollars. 

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