Uber has confirmed speculations of its acquisition of Middle East on-demand cab hailing company Careem, with the company now becoming a wholly owned subsidiary of Uber. The transaction is expected to be completed by Q1 2020.
Recently uncovered case files from the Waymo vs Otto trade secret theft case, reveal Uber’s optimism with self-driving cars in 2016, which included the company envision running 75,000 self-driving vehicles across 13 cities by 2022.
Uber and Lyft saw a steady growth in revenue this quarter, as they continue to invest heavily in mobility sharing segments, with Uber forking out into food delivery and truck hauling segments as well.
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