The announcement comes as Uber approaches a much-anticipated IPO that reports have said could value the firm at as much as $120 billion.
Uber has reached a deal to acquire ride-hailing competitor Careem for $3.1 billion, the companies announced Tuesday.
The announcement comes as Uber approaches a much-anticipated initial public offering that reports have said could value the firm at as much as $120 billion. It is expected to be one of the biggest tech IPOs in history. He added that the combined company will"deliver exceptional outcomes for riders, drivers, and cities, in this fast-moving part of the world."
In the past, international deals have seen Uber exit big markets like China and Southeast Asia, as homegrown giants ate away at its ride-hailing dominance and it became too costly to operate there.
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