We’ve asked Uber for comment.

The move might be a shrewd one. Uber is believed to be publicly filing for its IPO in April, and snapping up Careem would give investors an extra reason to back the company. On top of that, one of the company’s largest backers is a Saudi Arabian wealth fund — Uber could increase its chances of receiving more funding if it’s instrumental to ride hailing in the region. You might not see Uber make similar acquisitions unless it stands to gain more from the deal than some additional passengers.