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In April 2023, Careem's Super App business was spun out into a new legal entity, which e& acquired a 50.03% stake in, [8] while Uber maintains full ownership of Careem's ride-hailing business.
Careem operates in over 70 cities across 10 countries, from Morocco to Pakistan. In 2019, we were acquired by Uber for $3.1 billion USD, solidifying our position as the biggest unicorn in the Middle East and providing new opportunities for startups in the region.
Apr 10, 2023 · This business will be owned jointly by e&, Uber and Careem’s co-founders, which includes Sheikha and Magnus Olsson. This unit, which will be led by Sheikha, will have about 1,400 employees.
Careem Networks FZ-LLC has become a wholly-owned subsidiary of Uber, preserving its brand. Careem co-founder and CEO Mudassir Sheikha will continue to lead the Careem business, which will report to a board made up of three representatives from Uber and two representatives from Careem.
Apr 29, 2022 · Careem’s co-founders on finding purpose building a unicorn. April 29, 2022 | Interview. (6 pages) From the moment that Mudassir Sheikha and Magnus Olsson first decided to launch their own start-up in the Middle East, they knew they wanted to build something both “big and meaningful.”
Apr 10, 2023 · Careem’s ride-hailing business remains fully owned by Uber, which acquired it for $3.1 billion in 2019. Uber’s stake in the spinout is currently undisclosed. Careem Technologies will focus on...
Jan 3, 2020 · Careem Networks FZ-LLC has become a wholly-owned subsidiary of Uber, preserving its brand. Careem co-founder and CEO Mudassir Sheikha will continue to lead the Careem business, which will...
