WATCH THE VIDEO HERE Estonian mobility and delivery platform, Bolt has announced it has surpassed €2 billion ($2.11 billion) in annual revenue, further strengthening its position as a top European competitor to U.S.-based Uber. The company disclosed this in a statement released on Thursday. Headquartered in Estonia, one of Europe’s prominent tech hubs with over 1,450 startups, Bolt is proving that global tech innovation can thrive outside Silicon Valley. “I don’t agree that you can’t master world-class marketing or engineering from Europe,” said CEO Markus Villig, in the statement, emphasizing the company’s strong European roots and technological capabilities. According to Villig, ride-hailing companies will be the best way for self-driving cars to come to market, but he added that companies are “years out before having a service that is commercially viable, cheaper than a human driver and one that meets regulatory requirements”. Looking ahead, Bolt plans to integrate self-driving vehicles into its ride-hailing services. However, Villig noted that the autonomous vehicle industry is still years away from delivering a commercially viable service that meets both cost-efficiency and regulatory standards. In August 2023, Bolt announced that Nigerians and other individuals living within the country had used its platform for over 250 million rides since the firm began operations in 2016. According to the Country Manager of Bolt Nigeria, Yahaya Mohammed, the company would continue to collaborate with driver partners, regulatory bodies, and other industry stakeholders to ensure the growth of the ride-hailing industry in Nigeria.
Bolt’s annual revenue hits 2 billion euros, expands to over 50 countries
