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Didi Chuxing invests in Uber's Middle East rival Careem

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CIOL Writers
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Didi Chuxing and SoftBank partner to launch a taxi-hailing firm in Japan

China's largest ride sharing firm Didi Chuxing has invested an undisclosed amount in Dubai based ride hailing firm Careem. Careem, a Middle East rival to Uber, offers services to 12 million customers in 80 cities ranging from Pakistan to Turkey, Lebanon, Saudi Arabia, Jordan, Egypt, and Morocco.

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"Our partnership will enable us to share knowledge and resources about various topics, including intelligent transportation technology, products and operations, helping to accelerate mobility in the region," Careem said in a statement. Both the parties will collaborate by sharing information on transportation technology, product development and operations.

"Through technology exchange and co-development, we look to support continued growth and transformation of the region’s transportation industry, tap into the significant potential of the local internet economy and foster more innovative services for a broader network of communities around the world," said Didi Chuxing founder and CEO Cheng Wei.

Didi is looking to give tough competition to ride-sharing pioneer Uber via a string of partnerships with regional players in the Southeast Asia, Europe, Africa and now the Middle East. Previous investments by Didi Chuxing in taxi aggregators include a $100 million investment in Lyft in September 2015. Didi has also invested in Indian player Ola, Southeast Asia’s Grab, Brazil-based 99. Last week, Didi Chuxing invested in Taxify, a ride-hailing company based in Europe and Africa.

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