Uber To Buy Careem In $3.1 Billion Deal

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Uber is aquiring Careem in a huge deal of $3.1 billion dollars, is set to make as one of the top news in the technology industry.

Many big news outlets including Bloomberg and BBC has now confirmed that Uber will soon announce the big deal for a Middle Eastern company Careem for US$3.1 billion.

https://www.dailymotion.com/video/x74rimv

Bloomberg further stated that this deal is going to be a Cash and Share where Uber will pay a sum of $1.4 billion in cash and will pay remaining $1.4 billion in convertible notes for Careem.

JUST IN: Uber is set to announce a $3.1 billion deal to acquire Dubai-based rival Careem Networks, according to unidentified sources familiar with the matter.

The deal comes ahead of Uber's imminent IPO, which could value the company at $120 billion pic.twitter.com/bhnzQNGiPz
— Bloomberg Originals (@bbgoriginals) March 24, 2019

Dubai Media also told the outlets that this deal is happening

As per UAE Media, the deal will be announced anytime this week officially from Uber and Careem both.

Careem’s success reflects global investment-worthiness of #Dubai-based start-upshttps://t.co/Z3atlSNQ16 pic.twitter.com/nKbvZvTOM8
— Dubai Media Office (@DXBMediaOffice) March 24, 2019

This Uber and Careem deal will shift the paradigms for Middle Eastern companies

Careem was still a new startup as compared to Uber but Careem created a great impact on the tech startups all around the world.

Impressive marketing tactics of Careem has made it more impressive globally, having millions of customers using Careem daily is indeed a great benchmark setup by Careem.

What do you think of this deal ? Let us know in the comments below.