Ride-hailing startup Careem forays into food delivery business

Dubai's billion-dollar ride-hailing startup Careem on Monday launched its food delivery service Careem NOW in the Middle East, starting with Dubai and Jeddah. Careem plans to invest over $150 million to develop its delivery business. “Egypt and Pakistan will come next and then very soon the rest of the footprint will follow,” CEO and Co-Founder Mudassir Sheikha said.