Uber is buying Middle Eastern ride-sharing rival Careem for $3.1 billion

Uber has announced that it’s buying Careem, a rival ride-sharing service that operates across 98 cities in the Middle East, Africa, and southern Asia, for $3.1 billion. The New York Times notes that Careem will continue to operate as a separate brand, with a board of directors consisting of a mix of Uber and Careem representatives.Careem is an important acquisition for Uber, which recently retreated from various overseas markets in China, Russia, and Southeast Asia. With an established bu