Estonia-based mobility company Bolt Technology is reportedly considering an initial public offering (IPO), as reported by Bloomberg News. The company, valued at 7.4 billion euros in 2022, is exploring various options for raising capital, including a potential IPO as early as 2026 in either the U.S. or Europe. Bolt has raised significant funding in recent years and has begun expanding its services, including eScooter operations in the U.S. The news comes amid rising prices for rideshare services, with a recent report indicating a 7.2% increase in 2024. The report also highlighted the importance of offering reduced fares to retain users, with 72% of consumers surveyed saying they would cut back on or stop using rideshare services if prices rose further. In contrast, Uber reported 24% year-over-year growth in gross bookings in its Mobility segment, attributing the success to product innovation and expanding low-cost options. As Bolt continues to evaluate its potential listing venues, the decision of when to go public will depend on market conditions. With competition in the ridesharing industry increasing and consumer demand fluctuating, companies like Bolt are navigating the challenges of maintaining profitability and customer loyalty in a rapidly evolving market.
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