AMMAN — The global technology and
investment group e& announced on Monday the signing of a binding agreement
with
Uber and its subsidiary Careem to acquire a majority stake in Careem’s
Super App spinout, according to a press statement.
اضافة اعلان
Careem’s ride-hailing business will remain
fully owned by Uber and continue to be available with all other Careem services
on the existing app for customers.
e& is investing $400 million to become
a majority shareholder in Careem's Super App alongside
Uber and all three of Careem's co-founders.
The region’s ‘everything app’The Careem Super App offers over a dozen
services including food and grocery delivery, micro-mobility, a digital wallet
and suite of fintech services, and additional third-party services such as home
cleaning, car rental, and laundry. Careem serves customers in 10 countries
across the Middle East, North Africa, and South Asia.
With this new investment, Careem plans to
accelerate the realization of its vision to create the first “everything app”
serving customers across the Middle East. This will include expanding its core
food, grocery, and fintech services and the Careem Plus subscription program
across the region, while adding even more partner services to the app,
according to the press statement.
e& strategyThis
investment is in line with e&’s strategic ambition of scaling up consumer
digital offerings and accelerating its transformation to a global technology
and investments group. It provides e& with access to multiple digital
verticals, new innovative digital services, strong talent, and new geographies.
“The shared vision between e& and Careem is exciting, we believe that together we’ll be able to enhance our impact across different markets in the region while pushing the boundaries of customer experience.”
e& will leverage the Careem Super App
to boost the growth of its consumer digital services, including the expansion
of e& life’s fintech vertical, e& money, which will play an important
role in the super app vision by providing e& money’s powerful financial
service offerings.
‘More services to millions of people’Hatem Dowidar, CEO of e&, commented:
“Super apps have catalysed the economic, social and cultural growth of emerging
markets today. The popularity of super apps has come from the need to provide a
unique and seamless customer experience.”
“The Careem Super App is a digital native
that has built a rapidly growing payments, food, and grocery delivery network,
and a platform for other digital businesses to scale from,” Dowidar continued. “The
shared vision between e& and Careem is exciting, we believe that together
we’ll be able to enhance our impact across different markets in the region
while pushing the boundaries of customer experience.”
Dara Khosrowshahi, CEO of Uber, said: “Over
the last decade, Careem helped revolutionize mobility across the greater Middle
East while building an incredible brand. I am thrilled to partner with Careem,
and welcome e&, as we grow the Careem Super App to deliver more services to
millions of people in this fast-moving part of the world.”
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