Bolt has reached a major milestone, generating €2 billion in annual revenue, according to founder and CEO Markus Villig.
Speaking on Harry Stebbings’ 20VC podcast, Villig recounted Bolt’s journey from a €5,000 family loan in Estonia to becoming a global mobility powerhouse.
Why It Matters
- Bolt has evolved from a small startup into a global player in mobility, now offering five services: ride-hailing, scooter and e-bike rentals, food and grocery delivery, and car-sharing.
- The company operates in over 50 countries, holding the top spot in more than 20 markets.
What They’re Saying
- “I don’t really agree that you cannot figure out how to do world-class marketing or engineering from Europe,” Villig said, underscoring the strength of Europe’s tech talent and dismissing Silicon Valley’s dominance.
- He noted that Bolt’s success stems from hard-working European talent with a unique commitment to the company, contrasting it with Silicon Valley’s high turnover.
What’s Next
- Villig views autonomous vehicles (AVs) as a strategic priority, believing platforms like Bolt will play a central role in scaling AV technology. He pushed back on the idea that ride-hailing companies will be sidelined by AV development, emphasizing the complexities of scaling operations.
- “We’ve been building this for 11 years with human drivers, and that’s already hard,” Villig said. “If you add autonomous operations, it only gets more challenging.”
The Road Ahead
- Despite his optimism about AVs, Villig cautioned that fully autonomous, commercially viable ride-hailing is still years away, citing high costs and regulatory hurdles.
