Emirates Telecommunications Group Company (etisalat by e&) has announced plans to buy a $400 million stake in the Super App developed by Uber Technologies and its subsidiary Careem. This will make e& a majority shareholder in Careem’s Super App, alongside Uber and Careem’s co-founders. Super apps provide customers with various services, such as food delivery and financial services, on one platform. Careem’s Super App offers services like food and grocery delivery, remittances, and third-party services like laundry. Careem, which operates in 10 countries, will use the new funds to expand its services across the region. The company expects to benefit from e&’s large customer base and experience in scaling tech-enabled businesses. Careem plans to create the first “everything app” for the Middle East, expanding its core services and adding more partner services to the app.
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