cxo voice
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
Leaders Talk and Latest Tech News | CXO VOICE
No Result
View All Result
Home News

Uber has sold its stake worth $400 million in UAE’s Careem super app biz

IANS by IANS
May 6, 2023

Ride-hailing major Uber has sold its stake worth $400 million in Careem, the Middle East-based ride-hailing company that it bought in 2019, to boost its super app business.

Careem will spin out its super app business into a new venture backed with $400 million from the telco giant Emirates Telecommunications (known as e&).

Careem will be broken into two companies, Careem Rides and Careem Technologies, according to Mudassir Sheikha, CEO and Co-founder of Careem.

“I am delighted to announce that we have secured $400 million in investment from e&, the global technology and investments group. This investment will turbo-charge our Super App vision and restart our entrepreneurial journey to build the preeminent technology platform of our region,” Sheikha said in a blog post.

Careem Rides will operate a foundational ride-hailing service and will continue to be fully owned by Uber.

About 260 colleagues who directly or indirectly support Careem Rides will serve in Careem Rides under Ashish Labroo, who will start reporting into Uber’s Rides leadership, Sheikha announced.

ADVERTISEMENT

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

It will be owned jointly by e&, Uber, the three co-founders (who are investing alongside e&), and the colleagues.

“About 1,400 colleagues will be invited to join Careem Technologies, which I will lead as CEO. We will use the new funding and synergies with our new partner (e&) to scale the Super App and build category-leading verticals in all our key markets,” said Sheikha.

Some colleagues in Careem Technologies who work on shared infrastructure will continue to support Careem Rides.

Careem was founded in 2012 as a ride-hailing rival to Uber, which acquired Careem in 2019 for $3.1 billion.

IANS

IANS

For any query, [email protected]

Related Posts

Secure Service Edge
Cyber Security

HCLTech and Cisco Unveil Managed Secure Service Edge Solution to Enhance Cybersecurity for Businesses

June 11, 2025
Ericsson and Supermicro
Business

Ericsson and Supermicro Team Up to Enhance Edge AI Technology with 5G Connectivity

June 10, 2025
Product-Aligned Operating Models
AI

How Product-Aligned Operating Models Are Essential for Thriving in an AI-Driven Future: Report

June 10, 2025
Ericsson Airtel
Business

Ericsson Expands multi-year Managed Services deal with Bharti Airtel

June 10, 2025
Capgemini Dai-ichi Life Holdings
Business

Capgemini Partners with Dai-ichi Life Holdings to Launch Global Capability Center in India

June 10, 2025
HCLTech Kerala
Press Release

HCLTech launches its second delivery center in Kerala, India

June 10, 2025
Wipro Riyadh
Business

Wipro Expands Presence in Saudi Arabia with New Regional Headquarters in Riyadh

June 10, 2025
Qualcomm Alphawave
Business

Qualcomm to Acquire Alphawave IP Group for $2.4 Billion

June 9, 2025
Load More
ADVERTISEMENT

Latest Updates

Secure Service Edge

HCLTech and Cisco Unveil Managed Secure Service Edge Solution to Enhance Cybersecurity for Businesses

by News Desk
3 days ago

Ericsson and Supermicro

Ericsson and Supermicro Team Up to Enhance Edge AI Technology with 5G Connectivity

by News Desk
4 days ago

Product-Aligned Operating Models

How Product-Aligned Operating Models Are Essential for Thriving in an AI-Driven Future: Report

by Deepa Sharma
4 days ago

Ericsson Airtel

Ericsson Expands multi-year Managed Services deal with Bharti Airtel

by Deepa Sharma
4 days ago

Capgemini Dai-ichi Life Holdings

Capgemini Partners with Dai-ichi Life Holdings to Launch Global Capability Center in India

by Deepa Sharma
4 days ago

HCLTech Kerala

HCLTech launches its second delivery center in Kerala, India

by News Desk
4 days ago

Expert Views

Opinion

When AI Empowers Both Networks and Hackers: The New Battlefield for India’s Telecoms

May 20, 2025
Molly Sands AI
AI

AI RIP: 5 Things Knowledge Workers Will Say ‘Sayonara’ to in the Next Decade

March 8, 2025
multi cloud
Cloud

Multi-Cloud Made Simple: Strategies for Smart Business Management

March 5, 2025
Soft Skills
Opinion

Soft Skills and Technical Know-How: A Winning Combination in the Tech Industry

March 4, 2025
Digital Freedom
Cyber Security

Your Data, Their Gold: The Silent Battle for Digital Freedom

February 25, 2025

Get Latest Update

Subscribe to our mailing list to receives newsletter direct to your inbox!

ADVERTISEMENT

Leaders Interviews

Steve Wilson, GenAI Cybersecurity LLMs
Cyber Security

How effective is GenAI in cybersecurity? The role of LLMs and AI in security solutions. [Interview with Steve Wilson]

-
Interview on Counterfeit products with Nikhil Narayan
Leaders Talk

Advancements in ML & AI made it possible to detect counterfeit products in real-time, says Nikhil Narayan

-
Newgenone bridges the gap between business users and IT teams with its low code capability: Varun Goswami
Leaders Talk

Newgenone bridges the gap between business users and IT teams with its low code capability: Varun Goswami

-
AI chatbots, Prasanna-Kumar
Leaders Talk

Can AI chatbots enhance customer experience and reduce the cost of serving customers?

-

Entrepreneur

Samsung Electronics appoints its first female president

Inspiring Women Entrepreneurs in India (2022)

Technology Adoption For Entrepreneurs

Volunteering management is the need of the Hour

CXOVoice.com is a leading online publication for CXOs, entrepreneurs, senior leaders, developers, and industry professionals. Our coverage spans key sectors, including IT, technology, banking, finance, cybersecurity, engineering, and automobiles.

Connect with us

Easy Links

  • Cryptocurrency
  • Event
  • Blockchain
  • Press Release
  • Resources & Downloads

Write Us

[email protected]
  • Home
  • About Us
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

Copyright © 2025 CXOVoice - All Right Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/

No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release

Copyright © 2025 CXOVoice - All Right Reserved