Uber Buys Additional 12.5% Stake in Careem from e& for $100M

Mudassir Sheikha, Careem Co-Founder & CEO

Uber has agreed to acquire a 12.5% stake in Careem Technologies from UAE telecommunications and technology group e& in a transaction valued at $100 million.

Following the deal, e&'s ownership in Careem Technologies will decrease from 50.03% to 37.53%, while Uber will strengthen its position in one of the Middle East's most established technology platforms.

The transaction remains subject to regulatory approvals and customary closing conditions.

The move highlights Uber's continued confidence in Careem's long-term growth prospects and reinforces its strategic commitment to the Middle East's rapidly evolving digital economy.

How Has Careem's Ownership Structure Evolved Since Uber's Acquisition?

Careem's ownership structure has undergone several significant changes over the past six years.

Year	Event	Transaction Value
2019	Uber announced acquisition of Careem	$3.1 billion
2020	Acquisition completed	$3.1 billion
2023	e& acquired a majority stake in Careem's super app business	$400 million
2026	Uber acquires 12.5% stake from e&	$100 million

The company's landmark $3.1 billion acquisition by Uber, completed in 2020, remains one of the largest technology exits in Middle East startup history.

In 2023, e& invested $400 million to acquire a controlling stake in Careem's super app business, while Uber retained ownership of Careem's ride-hailing operations and remained a significant shareholder in the broader platform.

The latest transaction creates a more balanced ownership structure while preserving e&'s role as a major strategic shareholder.

What Does Careem's Super App Ecosystem Include?

Founded in Dubai in 2012, Careem has expanded far beyond ride-hailing to become one of the Middle East and North Africa's most diversified consumer technology platforms.

Today, the Careem ecosystem includes:

• Ride-hailing and mobility services
• Food delivery
• Grocery delivery
• Digital payments and fintech services
• Courier and logistics solutions
• Subscription-based consumer offerings
• Everyday lifestyle services

The super app model has become a defining feature of the region's digital economy, enabling companies to increase customer engagement while creating multiple revenue streams within a single platform.

Why Does the Uber-Careem Alignment Matter for the Middle East Tech Ecosystem?

The transaction signals renewed strategic alignment between Uber and Careem at a time when the Middle East's technology sector is entering a new phase of maturity.

Commenting on the deal, Careem Co-founder and CEO Mudassir Sheikha described the transaction as bringing Uber and Careem back into a "closer, deeply familiar alignment" while maintaining e& as a long-term strategic partner.

The strengthened relationship comes as several regional innovation hubs—including Hub71, Abu Dhabi Global Market (ADGM), and NEOM—continue attracting technology investment and accelerating digital transformation initiatives across the Gulf.

The Middle East's digital economy is projected to contribute hundreds of billions of dollars to regional GDP by the end of the decade, making strategic technology platforms such as Careem increasingly important infrastructure assets for the region's consumer economy.

What Does This Mean for Careem's Future Growth Strategy?

The ownership reshuffle positions Careem to benefit from the combined strengths of two influential shareholders:

Shareholder	Strategic Contribution
Uber	Global mobility expertise, operational scale, international technology capabilities
e&	Regional market access, digital infrastructure, telecom ecosystem integration

The partnership structure could help accelerate Careem's expansion across mobility, fintech, delivery, and digital services throughout the Middle East, North Africa, and broader EMEA region.

As regional technology ecosystems mature and venture-backed companies seek sustainable growth models, Careem remains one of the strongest examples of a Middle Eastern startup successfully evolving into a multi-service digital platform with regional scale.

For investors, founders, and ecosystem stakeholders, the transaction demonstrates how strategic ownership realignments continue shaping the next chapter of the Middle East's technology landscape.

 

 

FAQ

1. Why is Uber buying an additional stake in Careem?
Uber is acquiring a 12.5% stake in Careem Technologies from e& for $100 million to strengthen its ownership position and deepen strategic alignment with the Middle East-based super app.

2. How much of Careem will e& own after the transaction?
Following the transaction, e&'s stake in Careem Technologies will decrease from 50.03% to 37.53%, while remaining a major strategic shareholder.

3. What services does Careem offer today?
Careem operates a super app that includes ride-hailing, food delivery, grocery delivery, digital payments, logistics services, subscriptions, and other consumer-focused offerings.

4. When did Uber acquire Careem?
Uber completed its acquisition of Careem in 2020 through a landmark $3.1 billion deal, one of the largest technology exits in Middle East startup history.

5. What is the significance of this deal for the Middle East tech sector?
The transaction highlights continued investor confidence in regional technology platforms and reflects the growing strategic importance of super apps within the Middle East's digital economy.