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Now that's what sounds like a MEGA acquisition and real win-win game changer for both Careem and UBER in the Middle East market. Uber agreed to acquire Careem for $ 3.1 billion, consisting of $ 1.7 billion in convertible notes and rest $ 1.4 billion in cash. This transaction is expected to close within a year's time. Source: https://www.khaleejtimes.com/business/uber-acquires-dubai-based-careem-for-31-billion
The regular Dubai Taxis already have cameras installed inside them and now Uber is also adding the same feature in its taxis. Talking about the new safety features in Uber app, Sachin Kansal, Uber's global head of safety product stated that with more than 15 million trips registered on Uber each day, there is nothing more important than ensuring the safety of both the drivers and the riders. He further added that the company has been working since last year to develop products which will improve the user experience and provide peace of mind to everyone. Besides adding cameras, the Uber app will also introduce a shortcut to dial emergency numbers as well as an option to share trip details with trusted contacts with a single tap. More features will be added to improve the overall security standard of both the driver and the rider. Kansal also stated that the addition of these features will not impact the Uber service pricing. Do you appreciate this step taken by Uber? Or do you think this is somehow a breach of privacy for the riders? Do share your opinion with us.
Dubai-based ride-hailing company Careem Networks FZ launched its car service in Turkey just last year and is now abandoning it to shift its attention towards the $1.5 billion taxi market. Talking about the decision, Ibrahim Manna, the managing director of emerging markets at Careem stated that the company is in talks with some potential partners to improve the quality of the taxi service in the region. Other news suggests that Careem’s rival, Uber Technologies which is another San Francisco based ride-hailing company, plans to acquire Careem and expand its operations in the Middle East as well. Both Careem and Uber have faced government crackdowns and have paid a huge amount of fine in their attempt to launch the ride-hailing service in Turkey. Although these ride-hailing companies offer a much better ride quality and comfort compared to a regular taxi, they are definitely giving a hard time to the traditional cab drivers. Share your opinion with us whether you prefer these ride-hailing services or love traveling in the regular taxi.