According to Bloomberg, Careem Inc., a Dubai-based service that’s valued at about $1 billion, will partner with China’s Yidao Yongche and share resources, according to a statement. They’ll use London-based startup Splyt Technologies Ltd. to coordinate their fleets and payments so that passengers using one app can travel abroad to use the drivers of others without downloading new software.
For more info, visit https://www.bloomberg.com/news/articles/2017-02-27/tech-startup-market-sinks-to-lowest-point-in-three-years