Uber is increasing its investment in Careem through a new controlling stake deal. The move combines fresh capital and the purchase of part of e&’s shares. However, e& will remain a key shareholder and strategic partner in the company.
This transaction brings Careem and Uber into a closer business alignment once again. Both companies share a long and closely connected history in the region. Uber first entered the partnership in 2019 through a major acquisition.
After that phase, Careem began operating more independently with support from e&. This structure helped the company scale faster across multiple services. In recent years, Careem reported nearly five times the growth in top-line revenue.
During this period, the company pushed forward its “Everything App” strategy. It originally introduced this concept in the region in 2020. Since then, Careem expanded its services beyond ride-hailing into a wider digital platform.
Uber has continued to invest in the region over the years. It entered the market in 2013 and later completed the 2019 acquisition of Careem. The company also supported Careem through the pandemic period.
More recently, Uber has also explored new mobility technologies, including autonomous vehicle programs. Careem leadership has credited Uber as a strong catalyst for regional tech growth.
Careem’s leadership also highlighted the role of Uber CEO Dara Khosrowshahi. They praised his long-term trust and continued commitment to the region. This relationship has remained steady across different phases of growth.
At the same time, Careem also acknowledged strong support from e& leadership. Hatem Dowidar was thanked for backing the Everything App vision. Khalifa AlShamsi was recognized for consistent internal support.
Masood M. Sharif Mahmood and his team also received appreciation for operational backing. Careem said it looks forward to building more impact together with e&. The company also thanked its customers and partners for their trust. It said this support has been central to its journey so far. Additionally, employees, former staff, and captains were recognized for their effort and resilience.
