Uber has acquired “Cream” for $ 3 billion
Uber has acquired “Cream” for $ 3 billion! Uber has acquired “Cream” for $ 3 billion, making Cream Networks FZ LLC a wholly-owned and wholly-owned subsidiary of Uber.
The CEO of Cream will continue to lead the business-oriented Sheikha Carem business, which will report to Uber’s board of 3 representatives and Cream’s 2 representatives. Cream and Uber will operate their regional services and brands independently. Under the agreement, Ober has acquired cream transportation and payment businesses in the Middle East, which includes major markets including Egypt, Saudi Arabia, and the United Arab are Emirates.
Regulatory approval is underway in Pakistan, Qatar, and Morocco and the transaction will not take place in these areas until approval is received from the responsible legal authorities. Uber CEO Dara Khosrowshahi said he is looking forward to more innovation than cream. He said both platforms will enable drivers and riders to expand their services in the Middle East.
Today, a new chapter for cream has begun, said Karim CEO Mudassar Shekha. We started the journey almost a decade ago to make life easier for most people in the Middle East. Joining Uber will help accelerate our journey to make the region’s everyday life easier and better.
“We are excited to introduce Cream and Uber to new heights, both companies hope to have the opportunity to expand the services offered by the full acquisition,” he said. Likewise, increased use of revenue for drivers and riders increased access to better services and better economic opportunities, as well as increased use of it can be seen.