Uber rival Bolt Technology OU is working with advisers PJT Partners to explore possible options, including an initial public offering (IPO), according to people familiar with the matter. The company could seek to go public as early as next year, people familiar with the matter said. Bolt is still discussing the benefits of listing in Europe or the United States and may seek other ways to raise capital, they said. People familiar with the matter said discussions are at an early stage and plans could still change.
"As with any company considering a listing, we have consulted with professional advisors in a number of areas for assistance," a Bolt spokesman said in an email. "We will continue to evaluate a number of potential listing locations." The IPO date will depend on market conditions, the spokesperson said.
Bolt, a company that provides ride-hailing, food delivery and scooter rental services, last year received a 220 million euro ($231 million) credit line, which CEO Markus Villig said would help the company "get ready for an IPO." The company was valued at €7.4 billion in a 2022 funding round after raising €628 million from Sequoia Capital, Fidelity Management and other investors.
Bolt already competes with Uber in Europe, Africa, Asia and Latin America. In recent months, Bolt has expanded to North America under the name of the app "Hopp."
Bolt's planned IPO coincides with other European technology startups considering plans to go public. According to reports, Swedish financial technology company Klarna Group Plc plans to conduct an initial public offering in New York as early as the first half of 2025.