Ride-hailing service Bolt is back in London, and ready to take to on Uber. It will find doing so a tough challenge. However, as Wired noted, the service previously known as Taxify has one big advantage – it is much cheaper.
Bolt has spent the last two years going through the licensing process properly, and now it’s ready for action. But it is not new to ride hailing. The company was founded in 2013 by 19-year-old Estonian Markus Villig, and began by targeting markets – such as his home town of Tallinn – where Uber was slow to expand. It now operates in more than 30 countries, and has found particular success in Africa, where it offers rides on mopeds as well as in cars – the continent makes up about half of its revenue. But Uber is already deeply embedded into London’s transport system. It accounts for 80 per cent of all ride-hailing journeys, and is integrated into Google Maps and Citymapper.