How Careem could help Uber become profitable
November 17, 2019 at 09:00 AM EST
After Uber's disastrous IPO, 2019 proved to be a rough year for the ridesharing giant. But there was one bright spot for Uber - its $3.1 billion acquisition of the Dubai-based ridesharing service Careem. Acquiring its former competitor gives Uber a major win in the Middle East and North Africa region, where Careem has gained a loyal user base thanks to its deep knowledge of the local market.