DUBAI: Dubai-based ride-hailing app Careem Networks FZ raised US$350mil from investors including Japanese e-commerce giant Rakuten Inc and Saudi Telecom Co (STC), valuing it at about US$1bil.
Government controlled STC, as the company is known, would invest US$100mil for a 10% stake in Careem as part of a US$500mil fundraising round, it said.
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