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MENA region startup funding falls to 2018-19 levels
Factors contributing to the slowdown include the aftermath of SVB crisis, Eid and Easter holidays, and the global decrease in investment in tech startups due to Ukraine war.
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e& to acquire a majority stake in Careem Super App for $400m
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. -
Careem to end Qatar operations
The company did not offer any explanation for the decision. -
Food delivery market hots up even as inflation fear makes GCC residents cautious about expenses
Increased energy costs and supply chain disruptions caused by the epidemic would be a considerable burden for Gulf countries, which rely heavily on imports, says a report. -
Careem acquires MUNCH: ON
MUNCH: ON offering will be rebuilt on the Careem app. -
Delivery platforms run on woeful condition of riders
Riders of an online food ordering firm, who recently protested against unfair pay, allege that not only do they get penalized for late deliveries but part of their tips is also usurped. -
UAE and Egypt home to leading startups in 2021
The UAE eyes around 20 unicorns, the start-ups valued at $1 billion-plus each, by 2031. These high-value startups will be part of the country's 'Entrepreneurial Nation’ initiative. -
Careem looks to raise $500m to fund expansion
Careem, the vehicle-for-hire firm, has set its sights on raising some $500 million from investors, including regional sovereign wealth funds. -
Careem faces flak over random price hike
People in the UAE complain about Uber and Careem's high prices, which have been raised significantly in the last few months due to Expo 2020 and Dubai attracting many tourists. -
Careem launches luxury car ride-hailing Bahrain-Saudi Arabia service
Bahrain residents can book the one-way luxury car ride to Saudi Arabian cities such as Dammam, Khobar, Dhahran, Jubail, Buqaiq, Hufof and Riyadh for $198 per ride. -
Careem to heat up food delivery business in Middle East
In a move aimed at further strengthening its market position by adding more verticals to its current portfolio, Careem on Sunday announced the taking over of UAE-based RoundMenu at an undisclosed amount. Following this acquisition, it is expected that Careem would start testing food delivery services through the restaurant listing...