Taxify rebrands as bolt to expand its transport options beyond private cars – techcrunch – tech world gas and water company


Taxify, the ride-hailing company from Estonia backed by Didi and Daimler and now active in 30 countries, is making a key shift in its business today as it gears up for its next stage of growth. The company is removing “taxi” from its name and rebranding as Bolt, the same name that it has been using for its new electric scooter year 6 electricity worksheets service, to double down on providing multiple transportation options beyond private cars.

Bolt last raised money in May 2018, when it closed a $175 million round at a $1 billion valuation led by Daimler. CEO and co-founder Markus Villig confirmed in an interview in London this week that the next big growth round electricity videos for 4th grade will be coming in at a higher price tag — he referred to the $1 billion post-money valuation from the last round as a “good start” — in part because Bolt has expanded quite a bit in the interim: it had 10 million users in 25 countries back then; now, it has 25 million users in 30 countries now across Europe, Africa, and other territories.

Putting future engine technology to one side, the move away from using “taxi” in the name also underscores how the startup intends to widen its remit to cover more than just car-based rides. Cars may make up the vast majority of Bolt’s service today, but the plan is to add more scooters, other individual transport modes, and soon public transport links, he said, not unlike CityMapper’s multi-modal approach. “The old name was too restrictive.”

Key among those challenges is that the company has yet to launch a full service in the UK, and specifically London, the biggest ride-hailing electricity cost per month market in Europe. Its efforts to come to London stretch back to 2017, during what was probably the height of tension between its chief rival Uber and London regulators. Tired of waiting for its operating license to get approved, Taxify tried to circumvent the process by buying a small firm that already gas under a dollar had one and launched services that way. But the regulators were in no mood for funny business: after a mere three days of service, it got shut down.

That could, confusingly, involve yet another brand. At the end of last year, Taxify rebranded its London app as “Hopp” and started to accept driver sign-ups, but no passengers. It’s not clear whether Hopp will also now rebrand as Bolt, or how it will get used, but at the moment I’m seeing Hopp branding across several areas of the new Bolt site.

While London — and other tense markets for ridesharing startups like Spain and Germany — have all remained elusive, Bolt has used its home base of Estonia to edge into a number of other territories where rules have gas efficient cars under 10000 been less stringent and competition less fierce, including “most of the Central and Eastern European markets.” Sweden is the next country on its launch list, he added. Driving to the beat of a different drum

While Uber has pursued a strategy of global domination and (over the years) spending and launching aggressively to gain first-mover advantage in a number of markets, Bolt has done nearly the opposite. Villig — a 25 year-old who built the first electricity facts label Taxify app with his brother Martin when he was only 19 (he dropped out of university after six months to build the business) — is a firm believer in the fact that being a late entrant can be to a company’s advantage.

“We are doing more than $1 billion (gross) in annual rides, which is more than five times the money we have raised. No one comes close to that, and we’re aiming to keep up that efficiency,” he said. “Right now, investors appreciate that there is a ride hailing company out there that is not burning $1 billion per year.” Bolt has raised around $185 5 gases emitted from the exhaust pipe million in total, with backers in addition to Daimler including China’s Didi, TransferWise’s Taavet Hinrikus, Korelya Capital and others.