M&A Deal Summary

Uber Acquires Careem Networks FZ

On March 25, 2019, Uber acquired internet software and services company Careem Networks FZ for 3.1B USD

Acquisition Highlights
  • This is Uber’s 2nd transaction in the Internet Software and Services sector.
  • This is Uber’s largest (disclosed) transaction.
  • This is Uber’s 1st transaction in United Arab Emirates.

M&A Deal Summary

Date 2019-03-25
Target Careem Networks FZ
Sector Internet Software and Services
Buyer(s) Uber
Deal Type Add-on Acquisition
Deal Value 3.1B USD
Advisor(s) Jefferies (Financial)

Target

Careem Networks FZ

Dubai, United Arab Emirates
website
Careem Networks FZ LLC is an online private car booking service serving the greater Middle East region. A pioneer of the region’s ride-hailing economy, Careem is expanding services across its platform to include mass transportation, delivery and payments. Careem’s mission is to simplify and improve the lives of people and build a lasting organisation that inspires. Established in July 2012, Careem operates in 120 cities across 15 countries and has created more than one million economic opportunities in the region.

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Buyer(S) 1

Buyer

Uber

San Francisco, California, United States

website


Category Company
Founded 2009
Sector Internet Software and Services
Employees22,200
Revenue 37.3B USD (2023)
DESCRIPTION
Uber service center in Chicago, Illinois.
Uber service center in Chicago, Illinois.

Uber develops, markets and operates a mobile-app-based transportation network. Uber connects passengers with a variety of drivers for both personal and food delivery. Uber was formed in 2009 and is based San Francisco, California.


DEAL STATS #
Overall 5 of 12
Sector (Internet Software and Services) 2 of 5
Type (Add-on Acquisition) 5 of 11
Country (United Arab Emirates) 1 of 1
Year (2019) 1 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-09 JUMP Bikes

New York, New York, United States

Social Bicycles, Inc. (dba JUMP Bikes) enables members to find bikes at hub locations and reserve from the web, mobile applications, or directly from the bike itself. It serves residential properties, municipalities, universities, and corporate campuses in the US and internationally. The Company was formed in 2011 and is headquartered in New York City.

Buy $100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-11 Cornershop

Mexico City, Mexico

Cornershop is an online marketplace for on-demand delivery from supermarkets, pharmacies and specialty food retailers in Mexico and Chile. Cornershop was founded in 2015.

Buy -