Uber buys its Middle Eastern rival Careem
Image Credit: shortpedia
After years of backing out of major international markets, Uber seems to be ready to go on the offensive. The ridesharing firm is poised to buy Careem, its chief competitor in the Middle East, for the equivalent of $3.1 billion in cash and shares. The deal could be made public as soon as March 26. Uber may publicly file for its IPO in April and buying Careem would give investors an extra reason to back the company.