Uber has acquired a controlling stake in Careem, the UAE-based ride-sharing platform, from telecom company e&. Careem has expanded beyond mobility to become an 'everything app,' offering services like food delivery and payments. The deal values the transaction at $100 million.
Careem halts its ride-hailing services in Pakistan starting July 18, 2025, citing macroeconomic challenges. The Dubai-based company, owned by Uber, operates food delivery and other services in the country but will exit ride-sharing due to unsustainable conditions. Pakistan remains a key market for Careem’s non-ride-hailing businesses, including its food delivery platform.
Uber-owned **Careem** is restructuring into two units: **Careem Rides** for its core ride-hailing services and **Careem Technologies** to oversee development of its super app. The company secures a **$400 million investment** to support this transition, expanding its digital ecosystem beyond mobility.
Careem cuts 536 employees, or 31% of its workforce, amid financial strain from the Covid-19 pandemic. The Dubai-based ride-hailing and super-app company, acquired by Uber earlier this year, announced the layoffs in an internal meeting led by co-founder and CEO Mudassir Sheikha. The decision follows prolonged delays as the company grapples with operational challenges.
