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Uber acquires its biggest rival in the MENA (Middle East and North Africa) region – Careem in a whopping deal of worth $3.1 billion. This decision came after several speculations that hinted towards a possible merger. The Uber will now acquire Careem which has more than 33 million users in 98 cities. The acquisition consists of $1.7 billion in convertible notes and $1.4 billion in cash which are subjected to the regulatory approval as of now. Uber’s CEO Dara Khosrowshahi said that he expects the acquisition to conclude till early 2020. Even after the acquisition, Careem will operate as an independent brand under Uber. This means that both Uber and Careem will offer rides to their customers. It’s possible that Uber might experiment with new features on either of the platforms before introducing it to the other. Careem’s dominance in MENA region It won’t be wrong to say that Careem is Uber of MENA region. The  Uber-like taxi app  has its dominance in the Middle-East a

On Friday, a shocking news came from the Silicon Valley of India – Bengaluru, that the RTO has banned the taxi aggregator company for 6 months. The ban was imposed after the taxi-aggregator company violated its license condition by operating bike taxi illegally in the city. So, how operating bikes is illegal? For this we need to understand that Karnataka On Demand Transportation Technology Aggregators Rules 2016 allows Uber, Ola, and other aggregator companies to run only taxis and not the bikes. This is because of the lack of policy framework. This is not the first time that state has acted against the Ola and other can aggregator companies. Read More :   Taxi strike in Spain: A sign of a taxi revolution? In the month of February, they seized around 500 bike taxis which were operating illegally. Apart from Ola, Rapido has also been asked to stop their services. “The order was issued on March 18 but it was communicated to Ola only today (Friday). They will have to

The advent of taxi-aggregator services like Uber and Lyft have changed the taxi industry forever. An industry which used to function in a traditional way for decades got heavily disrupted by  app-based taxi companies . But what lies in the future? Here are top three ted-talks that hints at the possible future of taxi industry. A driverless transportation system Wanis Kabbaj absolutely loathes commutation and terms it as a monumental waste of human time and energy. To back up his statement, he presents some figures that in 2014 only in US the total amount of time consumed for commutation was enough to build 26 Giza Pyramids. He further says that it’s a high time that we find a novel solution to our transportation issues. He says we need to find an inspiration to solve our problems. Orignal source : P ossible future of taxi companies