Dubai
Dubai-based ride-hailing company Careem has acquired the talent and technology of India’s third largest mass transport app — Commut — for an undisclosed amount.
The Hyderabad-based Commut is a minibus shuttle service for daily office commuters in the state since November 2015.
Careem said in a statement the deal will accelerate its expansion into mass transportation through the addition of its bus services across 100 cities.
Commut’s local operations including its customers and driver-partners have now been taken over by Shuttl — a shuttle service provider in India.
“Mass transportation is one of the biggest issues facing many of the fast-growing cities in our region. Solving it will help to simplify lives and create affordable transport options that can be a catalyst for moving cities forward,” said Magnus Olsson, co-founder and chief experience officer of Careem.
He said the company is always looking to invest in new technologies and the right people to help solve complex local problems.
As Careem continues to expand across its technology platform, Olsson said the business will continue to acquire and invest in high impact, relevant and values-driven technology businesses and start-ups that can accelerate growth for Careem and can solve complex problems in the greater Middle East region.
Careem is also entering into the food business which will be launched in the next six months, Bassel Al Nahlaoui, managing director for UAE and GCC at Careem, told Gulf News in August.
The firm acquired the regional online restaurant listing platform RoundMenu in February,
“Our strategy is to continue ride-hailing and expand into new markets. We launched tuk-tuks [auto rickshaw], motorbikes and recently moved into buses in a number of cities where we operate. To capture the entire market, we have to provide an entire spectrum of products,” he said.
