Jun 15, 2017

Uber's rival in the Middle East raises $150 million

Careem, Uber's biggest rival in the Middle East, has raised $150 million to close out a $500 million funding round. Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding (also an investor in Lyft) led the round, with Daimler, DCM Ventures, and Coatue Management also participating. Careem is now valued at over $1 billion, said the company.

Why it matters: Uber's competition is stiffening as its local competitors around the world continue to raise more money. What's more, though these rivals generally face the same regulatory obstacles in their home markets, they also benefit from being more familiar with those same markets.

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Rebecca Falconer, Orion Rummler

Updated 7 mins ago - Politics & Policy

Updates: George Floyd protests continue past curfews

Protesters on Tuesday evening by the metal fence recently erected outside the White House. Photo: Olivier Douliery/AFP via Getty Images

Protests over the death of George Floyd and other police-related killings of black people continued Tuesday night across the U.S. for the eighth consecutive day — prompting a federal response from the National Guard, Immigration and Customs Enforcement and Customs and Border Protection.

The latest: The Army moved 1,600 soldiers from out of state into D.C. area, the Defense Department confirmed in a statement Tuesday. Protesters were still out en masse for mostly after curfews began in cities including Washington, D.C., New York City, Los Angeles and Portland.

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Ursula Perano, Zachary Basu

Updated 3 hours ago - Politics & Policy

Primary elections test impact of protests, coronavirus on voting

Election official at a polling place at McKinley Technology High School in Washington, D.C. Photo: Drew Angerer/Getty Images

In the midst of a global pandemic and national protests over the death of George Floyd, eight states and the District of Columbia held primary elections on Tuesday.

Why it matters: Joe Biden, the presumptive Democratic nominee, needs to win 425 of the 479 delegates up for grabs in order to officially clinch the nomination. There are a number of key down-ballot races throughout the country as well, including a primary in Iowa that could determine the fate of Rep. Steve King (R-Iowa).

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Zachary Basu

3 hours ago - Politics & Policy

Iowa Rep. Steve King defeated in GOP primary

Rep. Steve King. Photo: Alex Wroblewski/Getty Images

State Sen. Randy Feenstra defeated incumbent Rep. Steve King in Tuesday's Republican primary for Iowa's 4th congressional district, according to the Cook Political Report.

Why it matters: King's history of racist remarks has made him one of the most controversial politicians in the country and a pariah within the Republican Party.

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