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(Reuters) – Estonian ride-hailing and meals supply startup Bolt mentioned on Thursday it had hit 2 billion euros ($2.11 billion) in annual income, because the European rival of U.S.-based Uber grows its international presence and prepares to go public.
The corporate mentioned in a press release its app has reached over 50 international locations and is the No. 1 operator in additional than 20 of them, having widened its providing to ride-hailing, scooter and e-bike rental, meals and grocery supply and automobile sharing.
Its dwelling nation of Estonia is one among Europe’s largest tech hubs, housing over 1,450 startups in line with the federal government.
“I do not actually agree that you simply can not work out do world class advertising and marketing or engineering from Europe,” Bolt’s Chief Government Markus Villig mentioned within the assertion.
Experience-hailing corporations might be the easiest way for self-driving automobiles to return to market, he mentioned, however added that corporations are “years out earlier than having a service that’s commercially viable, cheaper than a human driver and one which meets regulatory necessities”.
Bolt was arrange in 2013 and 9 years later was valued at over $8 billion, when it raised 628 million euros from buyers in January 2022.
Villig informed Reuters final 12 months the group could be prepared for an preliminary public providing in 2025.
($1 = 0.9484 euros)
(Reporting by Alessandro Parodi, enhancing by Susan Fenton)
