By Tarmo Virki
TALLIN (Reuters) – Bolt of Estonia, a well-liked shared transport service in Jap Europe and Africa, launched a meals supply service in its hometown of Tallinn, the nation's capital, on Wednesday and stated it plans to launch Bolt Meals this 12 months in South Africa, Latvia and Lithuania too.
Bolt, which till the start of this 12 months was referred to as Taxify, has taken Uber enterprise primarily in main African cities and Jap Europe. Now it operates in 30 international locations.
Bolt is a late participant within the meals supply market, the place a number of new corporations and different shared journey corporations have operated for years. It plans to achieve market share with decrease costs for customers and a greater minimize for supply personnel, whereas rising its broad person base.
"It is a very aggressive market," Jevgeni Kabanov, Bolt's product supervisor, advised Reuters in an interview. "Nonetheless, now we have greater than 25 million individuals worldwide utilizing Bolt and meals supply has been a well-liked request for fairly a while."
Bolt modified its identify in early 2019 to make sure that the transport service just isn’t confused with taxis and to signify its rising provide: it has launched scooter leases in chosen cities.
"I might say that meals supply is the third launch of an awesome product for us. It suits completely with our technique," Kabanov stated.
Within the first half of 2019, Uber stated its Uber Eats income nearly doubled from the earlier 12 months to $ 1.1 billion. However the sector has been difficult for quite a few new corporations, as funding has declined from a peak in 2015.
Enterprise capitalists normally have withdrawn from the sector amid issues over extreme competitors and excessive valuations of corporations which can be usually not worthwhile.
In Tallinn, Bolt Meals's most important rival would be the Helsinki-based meals supply service Wolt, which has raised $ 160 million because the starting of 2018.
Bolt, based in 2013, has raised greater than $ 200 million from buyers, together with Daimler and Didi Chuxing Expertise Co from China, amongst others.
(Tarmo Virki report; Dan Grebler version)