Uber vs Careem
Uber set to own the old rival Careem. It will be amazing to see that uber is going to buy shares from the opponent side. Uber is quite keen on it they will pay $1.4 bn in cash and $1.7bn in notes that uber equity. This is about to full fill in 2020.
Careem a separate Brand
Careem without any reason will be a separate brand but some parts of the brand will be occupied by Uber. The brand is subsidizing its riders and drivers to become more competitive with other rivals. Although Uber has faced a loss of $3.3bn last year with the revenue more than $11bn. Careem does have its own value and worth by all means after this all happened. The Careem is trying to set system flows because their drivers sometimes do sucks. In Pakistan, because of their controversial ads, they are under serious pressure. On google play, store they had a rating of 4/5 stars but now it is decreased to 3.4/5 stars. Careem do need to know what they want to do because their ad was against Pakistani culture and also against Islamic values.
The Memo of Ceo
A memo has been sent by the CEO of uber to his staff regarding the current situation. The CEO Dara Khosrowshahi said that this deal between the two companies will allow both the company’s to make different structures and new dimensions will be open for us. New ideas will be a huge achievement for us according to Dara the time and accuracy will be improved and things will get better with the passage of time. The Memo was later published by CNBC.
Objective of The Deal
It will be good for Shareholders and also good for the online car booking riders to get the things to settle. Careem needs to focus on their marketing they did some mess in the last some of their unique ideas and that was such a stupid attempt. Hope we will see good, secure, trusted rides by the two Rivals in the coming time.