Company:Bolt

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Bolt
FormerlymTakso, Taxify
IndustryTransportation network company
FoundedAugust 2013; 10 years ago (2013-08)
FounderMarkus Villig
HeadquartersTallinn, Estonia
Area served
30 countries in Europe, Africa, Middle East, North America and Australia
ProductsMobile app
ServicesTransportation network company
Revenue€18 million (2017)[1]
Websitebolt.eu

Bolt, formerly known as Taxify,[2] is an Estonian transportation network company founded and headquartered in Tallinn, Estonia. The company develops and operates the Bolt mobile application, which allows people to request a taxi or private driver from their smartphone, as well as electric scooters. As of February 2019, Bolt operates in 30 countries[2] and 50 cities in Europe, Africa, West Asia, North America and Australia. The company has 25 million[2] customers globally and more than 500,000 drivers use the platform to offer rides.[3][4][5][6][7]

History

Bolt (then called Taxify) was founded by Markus Villig (then only 19 years old, a high-school student) in 2013, with a vision to aggregate all Tallinn and Riga taxis into one platform. The service was launched in August 2013 and in 2014 it went on to foreign shores.[8]

In 2017, Taxify launched its services in London by acquiring a local taxi company with a licence to operate, but was forced by Transport for London to shut down its services.[9][10] The company has filed a new licence application with plans to reopen services in London.[11]

Taxify logo (former)

Following the setback in London, Taxify launched its services in Paris and Lisbon.[12][13]

In September 2018, the company announced expanding into dockless electric scooters and launched them in Paris under the new Bolt brand.[14] The company also said it planned to release scooters in several other European and Australian cities where their app was already established, but would also launch in new markets where they’ve been unable to offer ride-hailing services because of regulatory roadblocks, including Germany and Spain.[15]

In June 2019, Bolt re-launched in London with 20,000 drivers registered on the platform.[16]

Financing

Prior to announcing a strategic partnership with Didi Chuxing, Taxify had raised over €2 million in investment capital from Estonian and Finnish angel investors.[17] In August 2017, Didi Chuxing invested an undisclosed amount believed to be an "eight-figure U.S. dollar sum".[18] A May 2018 funding round with a $175 million investment from Daimler, Didi and others led to a 1 billion dollar valuation for the company, making it a unicorn.[19]


Milestones

  • Became the first transportation app in the world to allow customers to pay for their trips via mobile carrier billing.[20]
  • Became the #2 travel app in South Africa, and #1 travel app in Kenya and Nigeria in 2017.[21]
  • Became the leading ride-hailing platform in Africa in 2018. [22][23]
  • Reached 10 million customers in May 2018.[24]
  • Expanded into electric scooters in September 2018[14] and became the first platform integrating these with ride-hailing services in one app.[25]
  • Rebranded to Bolt and reached 25 million passengers in February 2019.[2]
  • Launched in London in June 2019.[16]

Services

Bolt operates their app, which enables people to hail rides from their smartphones. The application is available for Android, iOS and Windows Phone. Riders must choose a payment method: cash, credit card or mobile carrier billing before they can use the service.[26] The customer requests a ride and confirms their pick-up location. Once the driver accepts the trip, the customer will be able to see the driver's name and car details. After the ride is completed both driver and the rider can rate each other.[27][28]

Safety

Bolt has stressed the importance of customer safety. All drivers undergo a criminal background check and in-person training. Drivers are also required to be at least 21 years old and have had a driver's license for at least 3 years. Bolt has a zero-tolerance policy against alcohol and drug use.[29] In Nigeria, Bolt has included an SOS button for drivers that sends real time emergency alerts to the Lagos State Emergency Response Agency.[30] In South Africa, a similar feature is powered by the safety app Namola.[31] In London, an in-app SOS button links riders and drivers with the emergency services. [32]

Locations

Country Cities
Australia Brisbane, Melbourne, Sydney
Austria Vienna
Azerbaijan Baku, Ganja, Sumgayit
Croatia Zagreb
Cyprus Limassol, Nicosia
Czech Republic Prague
Estonia Haapsalu, Jõhvi, Kohtla-Jarve, Kuressaare, Narva, Pärnu, Rakvere, Tallinn, Tartu, Viljandi
Finland Helsinki
France Lyon, Paris
Georgia Batumi, Kutaisi, Tbilisi
Ghana Accra
Hungary Budapest, Debrecen
Iraq Baghdad
Kenya Mombasa, Nairobi
Latvia Daugavpils, Jelgava, Liepaja, Riga, Ventspils
Lithuania Kaunas, Klaipeda, Panevezys, Šiauliai, Vilnius
Malta Malta
Mexico Durango, Guadalajara, Hermosillo, Mexico City, Monterrey
Nigeria Abuja, Benin City, Ibadan, Lagos, Owerri, Uyo, Calabar
Poland Bydgoszcz, Katowice, Krakow, Lodz, Lublin, Poznan, Radom, Tricity, Warsaw, Wroclaw, Szczecin, Olsztyn Plock
Portugal Braga, Lisbon, Porto
Romania Bucharest, Cluj-Napoca, Timisoara
Russia Moscow, Saint Petersburg
Saudi Arabia Riyadh
Serbia Belgrade
Slovakia Banska Bystrica, Bratislava, Kosice, Nitra, Prešov, Trnava, Žilina
South Africa Cape Town, Durban, East London, Garden Route, Johannesburg, Pietermaritzburg, Polokwane, Port Elizabeth, Pretoria, Rustenburg
Sweden Stockholm
Tanzania Dar es Salaam, Dodoma, Mwanza
Uganda Kampala
Ukraine Kharkiv, Kyiv, Lviv
United Kingdom London

References

  1. ↑ "Taxify käive 18 miljonit, kahjum 11 miljonit" (in Estonian). Äripäev. 2018-07-06. Archived from the original on 2018-07-06. https://web.archive.org/web/20180706161320/https://www.aripaev.ee/uudised/2018/07/06/taxify-kaive-18-miljonit-kahjum-11-miljonit. 
  2. ↑ 2.0 2.1 2.2 2.3 "Taxify rebrands as Bolt to expand its transport options beyond private cars" (in en-US). http://social.techcrunch.com/2019/03/06/taxify-rebrands-as-bolt-as-it-expands-transport-options-beyond-private-cars/. 
  3. ↑ "New Ride-Hailing App Taxify to Launch in Egypt and Compete with Uber, Careem, and Ousta". http://www.cairoscene.com/BusinessAndPolitics/New-Ride-Hailing-App-Taxify-to-Launch-in-Egypt-and-Compete-with-Uber-Careem-and-Ousta. 
  4. ↑ ERR (2017-04-12). "Estonian taxi-hailing app Taxify expands to Baku, Malta" (in en). ERR. http://news.err.ee/589561/estonian-taxi-hailing-app-taxify-expands-to-baku-malta. 
  5. ↑ ERR (2017-10-05). "Estonia's Taxify expands ride-hailing platform to Paris" (in en). ERR. http://news.err.ee/634476/estonia-s-taxify-expands-ride-hailing-platform-to-paris. 
  6. ↑ Taxify (2018-04-27). "Taxify Hits 10M Users Globally". https://medium.com/@taxify/taxify-hits-10m-customers-globally-acdb975294d9. 
  7. ↑ Almeida, Goncalo. "Taxify aims for 10-fold Africa growth, to overtake Uber in Europe" (in en-US). U.S.. https://www.reuters.com/article/us-portugal-websummit-taxify/taxify-aims-for-10-fold-africa-growth-to-overtake-uber-in-europe-idUSKCN1NE1NX. 
  8. ↑ Treija, Ieva. "Taxi startup forces countries to change Transport Law by offering new business model | EU-Startups" (in en-US). http://www.eu-startups.com/2016/02/uber-what-taxiy-is-the-most-popular-taxi-startup-in-the-baltics/. 
  9. ↑ "Taxify launches in London, acquiring a cab firm to scale and discounting prices – TechCrunch" (in en-US). https://techcrunch.com/2017/09/05/taxify-launches-in-london-acquiring-a-cab-firm-to-scale-and-discounting-prices/. 
  10. ↑ "Uber-Rival Taxify Suspended in London Amid License Investigation" (in en). Bloomberg.com. 2017-09-08. https://www.bloomberg.com/news/articles/2017-09-08/uber-rival-taxify-suspended-in-london-amid-license-investigation. 
  11. ↑ Titcomb, James (2018-02-24). "Uber rival Taxify plots London comeback" (in en-GB). The Telegraph. ISSN 0307-1235. https://www.telegraph.co.uk/technology/2018/02/24/uber-rival-taxify-plots-london-comeback/. 
  12. ↑ Auchard, Eric. "After London setback, Taxify trails Uber into Paris market" (in en-US). U.S.. https://www.reuters.com/article/us-france-taxis-taxify/after-london-setback-taxify-trails-uber-into-paris-market-idUSKBN1CA1I3. 
  13. ↑ Barber, Lynsey (2018-01-11). "Uber rival Taxify launches in Lisbon as London wait continues" (in en). http://www.cityam.com/278597/uber-rival-taxify-launches-lisbon-london-licence-wait. 
  14. ↑ 14.0 14.1 "The scooter war explodes in Europe as Taxify brings dockless scooters to Paris". Business Insider. https://www.businessinsider.com/taxify-launches-dockless-electric-scooters-for-hire-in-paris-2018-9. 
  15. ↑ "Taxify is entering the e-scooter game" (in en-US). TechCrunch. https://techcrunch.com/2018/09/05/taxify-is-entering-the-e-scooter-game/. 
  16. ↑ 16.0 16.1 Schulze, Elizabeth (2019-06-11). "Uber's European rival Bolt launches in London" (in en). https://www.cnbc.com/2019/06/11/uber-european-rival-bolt-taxify-launches-in-london.html. 
  17. ↑ "The Estonian taxibooking app Taxify raises $100K" (in en-US). Estonian World. 2014-04-28. http://estonianworld.com/technology/estonian-taxi%C2%ADbooking-app-taxify-raises-100k/. 
  18. ↑ Russell, Jon. "China’s Didi invests in Taxify, an Uber rival operating in Europe and Africa" (in en). TechCrunch. https://techcrunch.com/2017/08/01/chinas-didi-invests-in-taxify/. 
  19. ↑ Nair, Dinesh. "Uber's European Rival Taxify Wins Unicorn Status Raising Funds". MSN Money. https://www.msn.com/en-us/finance/companies/ubers-european-rival-taxify-wins-unicorn-status-raising-funds/ar-AAy0OO8. Retrieved 2018-05-31. 
  20. ↑ "Taxify vs. Uber - TheSpark" (in en-US). TheSpark. 2017-03-07. http://www.thesparkng.com/taxify-vs-uber/. 
  21. ↑ "Taxify steadily gaining ground in Africa as Uber falls victim of its pricing - TechMoran" (in en-US). http://techmoran.com/taxify-steadily-gaining-ground-africa-uber-falls-victim-pricing/. 
  22. ↑ "Taxify Beats Uber In Africa | PYMNTS.com" (in en-US). https://www.pymnts.com/news/ridesharing/2018/taxify-beats-uber-africa/. 
  23. ↑ Wexler, Alexandra; Echwalu, Edward (2018-09-16). "Taxify Rides Motorbikes to Lead Over Uber in Africa" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/taxify-rides-motorbikes-to-lead-over-uber-in-africa-1537117202. 
  24. ↑ "Taxify global user numbers hit 10 mln". The Baltic Course. http://www.baltic-course.com/eng/good_for_business/?doc=139606. 
  25. ↑ Ram, Aliya; Bradshaw, Tim (2018-09-06). "Ride-hailing app Taxify to launch electric scooters in Paris" (in en-GB). https://www.ft.com/content/4fff7dc2-b11b-11e8-8d14-6f049d06439c. 
  26. ↑ "Estonian Taxify first in the world to launch mobile billing for cabs - ArcticStartup" (in en-US). ArcticStartup. http://arcticstartup.com/article/estonian-taxify-first-in-the-world-to-launch-mobile-billing-for-cabs/. 
  27. ↑ "We used Taxify in Lagos and this is how it went | TechCabal". http://techcabal.com/2016/11/21/we-used-taxify-in-lagos-review/. 
  28. ↑ Taxify startet nächste Woche in Wien, futurzone, 2017-10-13.
  29. ↑ "Ride hailing services: how safe are you? | IOL". http://www.iol.co.za/motoring/industry-news/ride-hailing-services-how-safe-are-you-7736311. 
  30. ↑ "Taxify introduces SOS button for real time alerts to Lagos State Emergency Response Agency" (in en-US). BusinessDay : News you can trust. 2018-04-19. http://www.businessdayonline.com/taxify-introduces-sos-button-real-time-alerts-lagos-state-emergency-response-agency/. 
  31. ↑ "Safer rides as Taxify, crime app Namola join forces" (in en). IOL News. https://www.iol.co.za/news/south-africa/gauteng/safer-rides-as-taxify-crime-app-namola-join-forces-14326400. 
  32. ↑ Katwala, Amit (2019-06-12). "Uber's new London rival has one huge advantage: it's much cheaper". Wired UK. ISSN 1357-0978. https://www.wired.co.uk/article/bolt-taxi-london-price-uber-app. 

External links

  • Bolt - Official Website




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