Latest News

Uber rival Bolt's annual revenue hits 2 billion euros

Estonian ridehailing and food shipment startup Bolt said on Thursday it had actually hit 2 billion euros ($ 2.11 billion) in yearly income, as the European competitor of U.S.based Uber grows its global presence and prepares to go public.

The business stated in a statement its app has reached over 50 nations and is the No. 1 operator in more than 20 of them, having expanded its offering to ride-hailing, scooter and e-bike rental, food and grocery delivery and automobile sharing.

Its home country of Estonia is one of Europe's biggest tech hubs, real estate over 1,450 startups according to the government.

I don't really concur that you can not find out how to do world class marketing or engineering from Europe, Bolt's Chief Executive Markus Villig said in the statement.

Ride-hailing business will be the very best way for self-driving cars and trucks to come to market, he said, however included that business are years out before having a service that is commercially feasible, more affordable than a human motorist and one that fulfills regulatory requirements.

Bolt was set up in 2013 and nine years later was valued at over $8 billion, when it raised 628 million euros from financiers in January 2022.

Villig informed Reuters last year the group would be all set for an initial public offering in 2025.

(source: Reuters)