Uber to retain Careem brand for now: Careem CFO
'Maintaining two separate brands in the same market is better for competition'
Animation of Careem and Uber. PHOTO: EXPRESS
DUBAI:
Uber and Middle East ride-hailing business Careem will remain separate entities until at least the first quarter of 2020, when Uber’s acquisition is expected to close, Careem’s CFO said on Tuesday.
You can now book a Careem without internet
The $3.1 billion dollar acquisition will make Careem a wholly owned subsidiary of Uber, but the Careem brand and app will remain intact, at least initially.
Maintaining two separate brands in the same market is better for competition, Ankur Shah said at a financial conference in Dubai.
Uber and Middle East ride-hailing business Careem will remain separate entities until at least the first quarter of 2020, when Uber’s acquisition is expected to close, Careem’s CFO said on Tuesday.
You can now book a Careem without internet
The $3.1 billion dollar acquisition will make Careem a wholly owned subsidiary of Uber, but the Careem brand and app will remain intact, at least initially.
Maintaining two separate brands in the same market is better for competition, Ankur Shah said at a financial conference in Dubai.