Uber's $3.1B purchase of Careem marks its first-ever acquisition of another ride-hailing company:
the North African and Middle Eastern ride-hailing market will be worth $7.3 billion by 2023.
The Middle East is one of the only areas of the world where Uber could carve out a dominant position in a high-growth market. In India, Uber is locked in a fierce competition with Ola, while the company has altogether exited other high-growth markets like Southeast Asia and China.
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