Abu Dhabi, UAEFriday 22 November 2019

Business Extra podcast: Careem gets on its bike with Cyacle acquisition

Also, PTV Group’s Andrea Petti talks about the future for autonomous transport

Ride-hailing platform Careem has acquired UAE-based bike-sharing company Cyacle for an undisclosed sum, its first foray into "micro-mobility". Composite photo from Bloomberg and Cyacle
Ride-hailing platform Careem has acquired UAE-based bike-sharing company Cyacle for an undisclosed sum, its first foray into "micro-mobility". Composite photo from Bloomberg and Cyacle

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.

Listen here:

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)

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Updated: May 29, 2019 06:32 PM

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