Careem, a UAE based ride hailing company, and Shuttl, an Indian bus aggregator, have acqui-hired Commut, a Hyderabad based mass transit company, for an undisclosed amount. Careem will use the acquisition to expand into mass transit services by adding buses in its 100 cities in MENA, Pakistan and Turkey. Investments in the companies Careem has raised about $571 million in venture funding so far from multiple investors like Daimler, Rakuten, Didi Chuxing. In July, Shuttl raised $11 million led by Amazon India, Amazon Alexa Fund and Dentsu Ventures, with participation from existing investors Sequoia Capital, Times Internet and Lightspeed Ventures. In May 2016, Commut raised $200,000 in funding from 50K Ventures. The companies in numbers Careem claims to have 975,000 full time and part time drivers (which it calls Captains) and over 15 million users. Headquartered in Dubai, it is present in 100 cities across 14 countries. Shuttle claims to do 45,000 rides daily in Delhi NCR, and is available in 7 cities with 200 buses using 150 routes. Commut claims to have made 750,000 trips on 100 existing routes. It claims to have 70,000 users and 400 drivers. Careem previously acquired RoundMenu, a UAE based food ordering app, and said that it would spend $150 million to launch a food delivery service. Interestingly, Bloomberg reported in July that Uber was in talks to merge with Careem in the Middle East. This came months after Uber sold its Southeast Asian business to Grab.
- ONDC September Round-Up: AI, grievance redressal, financial services, Google, exports, and more September 30, 2023
- ‘The Liver Doctor’ X account suspended following defamation case by Himalaya Wellness Corporation September 29, 2023
- Bombay HC to Pronounce Judgment on Fact Check Amendment on December 1st, Stay on Notification to Continue Until Then September 29, 2023
- Here’s how web publishers can opt out of Google crawlers scraping website data to train AI models September 29, 2023
- Parliament Standing Committee Calls For A Monitoring Group To Check Technological Readiness For Digital Education Projects September 29, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Straw man fallacy: IT Ministers’ defence of government exemptions in data protection law misses the point
Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...
The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...