Uber Sells $400 Million Stake in Careem to Boost Super App Business

Uber Sells $400 Million Stake in Careem to Boost Super App Business.

Ride-hailing giant Uber has announced that it has sold its $400 million stake in Careem, the Middle East-based ride-hailing company it acquired in 2019, in a move to enhance its super app business.

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Careem will be broken into two separate companies: Careem Rides and Careem Technologies.

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Careem Technologies will operate the Super App and all other verticals and enablers.

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The spin-out of Careem’s Super App business marks a significant shift for the ride-hailing company.

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