Bolt Aims for Profitability in 2024 and IPO in 2025 to Compete with Uber

Bolt, the ride-hailing company that operates in over 40 countries worldwide, has announced its plan to turn profitable by next year and go public with an initial public offering (IPO) in 2025. The Estonian-based company, which competes with Uber, aims to expand its market share and increase revenue streams to achieve long-term success.

Bolt has gained a reputation for its affordable ride-hailing services, attracting a loyal customer base and establishing itself as a viable competitor to Uber. However, the company has yet to turn a profit, with losses of around $300 million reported in 2022.

To achieve profitability, Bolt is focusing on increasing efficiency and expanding its services, including its Bolt Food delivery service and Bolt Business corporate travel platform. The company has also announced plans to introduce electric vehicles to its fleet, reducing operating costs and enhancing its eco-friendliness.

In addition to its efforts to turn profitable, Bolt has also revealed its intention to go public with an IPO in 2025. The move would provide the company with additional funding and raise its profile in the highly competitive ride-hailing industry.

By aiming for profitability and preparing for an IPO, Bolt is positioning itself for long-term growth and success in a market dominated by Uber. The company’s dedication to improving efficiency, expanding services, and embracing new technologies demonstrates its commitment to providing affordable and sustainable transportation solutions to consumers worldwide.

As Bolt continues to gain momentum and expand its market share, its focus on profitability and preparation for an IPO is a promising sign of the company’s potential to succeed in a highly competitive industry.