Careem officials said Careem is hoping to bring more than half-billion dollars investment in Pakistan.
The amount contains the investment value of employees’ stock options, and shares, and other things related to the assets of careem in Pakistan.
According to the plan, the deal of these two ride-hailing companies has settled at 3.1Billion.
Careem performance is growing in different countries of the Middle East, including Pakistan.
Uber is also designed to take over careem as its secondary but the company will remain as practical and an independent organization.
Asad Haider Khan General Manager South at Careem during a recent media meet-up in Karachi said that,
They are going to launch a bus service in the next three months aimed at different strata of the society for meeting their needs of commuting and traveling within the city and within the country,
Customers will be able to book their seats in the buses through Careem’s App and reach their nearby stops at the given time.
Salahuddin Ghaznavi, CFO at Careem. Said that we are confident that careem will safely achieve more than 80 percent of its targets to increase its fleet size to 1 million vehicles with the creation of 1 million jobs by 2020.
“At present, we are operating with approximately 375,000 vehicles in 15 various cities, these cities are largely untapped and are being explored by Careem.
There are 15 more cities where we plan to commence our operations and it will be done in phases.
He also remarked that the achievement of goals, set by Careem, will benefit the people and Local Economy,
The transport sector is huge in Pakistan which also includes trucks, intercity buses, coasters and hi-ace, light commercial vehicles and so on.
The CEO of Uber Khosrowshahi said at a conference in May, that Uber would be top in India, Middle-east, and Africa.
“He also added that I believe we are going to be the winning player in those markets, and we are going to control our own destiny”
A leader market Careem
Careem operates in more than 70 cities across at least 10 countries from North Africa to Pakistan.
It is a market leader in most of these markets. Its biggest market is Saudi Arabia, where Uber has been pushing plans to sign up female drivers to take advantage of the kingdom’s decision to overturn a ban on women behind the wheel.
Saudi Arabia’s sovereign wealth fund is a large investor in Uber, after the acquisition of $3.5billion stakes in 2016.
Saudi billionaire Prince Alwaleed bin Talal’s investment vehicle Kingdom Holding Co., and Saudi Telecom Co.’s venture capital arm STV are also investors in Careem.