Uber’s Mideast Rival Plans 2019 IPO as It Works Toward Profit
Careem CEO: We're on Path to Profitability, Potential IPO
This article is for subscribers only.
Careem Networks FZ, which competes with Uber Technologies Inc. in the Middle East, may sell shares to the public in the next three years after a fundraising round valued the company at about $1 billion.
“We are on a path to profitability and over time a potential listing," Chief Executive Officer Mudassir Sheikha said in a TV interview with Bloomberg Markets Middle East on Tuesday. “It would probably be in 2018-2019 when it starts to become more feasible. I don’t think we would need more money before a listing."