Careem gets on its bike with Cyacle acquisition

Ride-hailing platform Careem has acquired UAE-based bike-sharing company Cyacle for an undisclosed sum, its first foray into "micro-mobility" — an increasingly popular concept for providing easy access to scooter and bike rentals in urban areas.

Magnuss Olsson, Careem’s co-founder, sees that increasing bicycle availability and expanding bike routes will transform how people commute in the region.

Host Mustafa Alrawi, Assistant Editor in Chief, and Kelsey Warner, Assistant Business Editor, discuss the potential of such fresh solutions for transport’s ‘last-mile’ problem.

Also, Chris Nelson, Assistant Business Editor speaks to Andrea Petti, managing director of PTV Group, the traffic and logistics software company owned by Porsche. Mr Petti explains what he thinks will be the main factors behind the mainstream adoption of autonomous transport in the future.
In this episode: 

• Top news of the week (36 seconds)  
• Careem’s purchase of Cyacle (3 minutes 40s)  
• Interview with PTV Group’s Andrea Petti (11m 30s)

Read more on our website:

• Careem acquires Abu Dhabi's Cyacle bike-share company
• Cryptocurrencies bounce back with Bitcoin rising to highest level in a year
• Lebanon 2019 budget is start of a long economic recovery process, Saad Hariri says
• Dubai Land Department and Mashreq bank sign e-mortgage deal
• London home sellers offer ever-growing discounts