Uber has acquired “Cream” for $ 3 billion
Uber has obtained “Cream” for $ 3 billion, making Cream Networks FZ LLC a definitely claimed and entirely possessed auxiliary 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 work their territorial administrations and brands freely. 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 eager to acquaint Cream and Uber with new statures, the two groups would like to have the danger to grow the administrations supplied with the aid of the full obtaining,” 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.