Middle East Ride-Hailing App Careem Reveals Major Cyber Attack

(Bloomberg) -- Dubai-based ride-hailing app Careem Networks FZ has revealed a cyber incident in January where hackers gained access to systems that hold customer and driver account data.

Passangers’ names, email address, phone number and trip data was stolen, the company said in a statement Monday. Careem is Uber Technologies Inc.’s largest rival in the Middle East.

There was "no evidence" that customer passwords and credit card numbers have been stolen, the company said.

Founded in 2012, Careem notched over 15 million customers across 14 countries last year, according to a January annual review. The platform also includes more than half a million drivers. It operates mostly in the MENA region, providing chauffeured rides in countries including Saudi Arabia, United Arab Emirates, Turkey and Egypt.

Careem has been in early talks with banks about a potential initial public offering, according to people familiar with the plans. The firm could be valued at about $1.5 billion, with a share sale likely by early 2019.

Customers and drivers who have signed up since January 14, when the company detected the breach, were not impacted. Services remain in operation as Careem works with cybersecurity experts and law enforcement agencies on the matter, the company added.

To contact the reporter on this story: Nour Al Ali in Dubai at nalali1@bloomberg.net.

To contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Molly Schuetz

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