Uber discusses with Careem over outside investment

A Reuters report that cited sources has it that Uber Technologies is in talks with the management of its Middle East unit Careem to bring outside investors into the business.

The investment would help finance the further roll-out of Careem’s so-called Super App, Reuters reports.

The report has it that Careem’s management wanted to build on its Super App – of which co-founder and Chief Executive Mudassir Sheikha has long been a proponent – while Uber was focused on ride-hailing.

The planned move comes just over two years after Uber bought its Dubai-headquartered rival, which operates predominantly in the Middle East, for $3.1 billion, keeping the brand and app intact.

The new Careem business could be listed, Reuters reports.

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