Thursday, June 15, 2017

"Saudi Billionaire, Daimler Invest in Uber's Next Big Rival"

This sounds like something set up with the implicit aim of  getting bought out. If so, that seems pretty smart.
If not, excuse me for a minute while I make a couple quick calls.

From The Street:
Saudi billionaire Prince al-Waleed bin Talal's investment company Kingdom Holding Co and Mercedes-Benz maker Daimler AG (DDAIF) invested in Careem, Uber's Middle Eastern ride-hailing rival.

Careem wants to use the latest round of funding, which raked in $500 million, to gain traction in the region and develop driverless pods as the new norm for public transportation.

Careem operates in over 80 cities with 10 million app users....MORE