Bolt Technology OU, a competitor to Uber (UBER, Financial), is reportedly exploring options for a potential Initial Public Offering (IPO) with the assistance of advisors from PJT Partners. The company might pursue a listing as early as next year, though it is still evaluating whether to list in Europe or the United States and considering other funding avenues.
Discussions are in the early stages, and plans could change. A Bolt spokesperson mentioned that, like any company contemplating a public listing, they are consulting with experts to explore various possibilities. The timing of the IPO will depend on market conditions.
Bolt offers ride-hailing, food delivery, and scooter rental services. Last year, it secured a credit line of €220 million ($231 million) to prepare for an IPO, according to CEO Markus Villig. In a 2022 funding round, Bolt was valued at €7.4 billion, having raised €628 million from investors including Sequoia Capital and Fidelity Management.
The company competes with Uber across Europe, Africa, Asia, and Latin America and has recently expanded to North America under the app name "Hopp." Bolt's IPO plans align with similar considerations by other European tech startups, such as Sweden's Klarna Group Plc, which reportedly aims for an IPO in New York by the first half of 2025.
