Voi CEO says he’s open to acquiring Bolt’s micromobility business

The shared micromobility startup is looking for acquisitions. And on the list of wishes of the CEO Frederik Hjelm is Bolt, the super-application of European mobility better known for its COD.

It is not that Bolt micromobility activities are necessarily to sell – despite the conversation of See the company Scooter and bicycle arms. Bolt refused to comment when Techcrunch stretched out.

“Bolt is a big business, but they are mainly a carpooling Company, “said Hjelm to Techcrunch on stage at the Round Table of Micromobility Industries in Brussels, where he was joined by the Co-PDG of Bird Michael Washinushi and the CEO of Dott / Tier Henri Moisinac.

Hjelm said Bolt’s challenge is that it must be “extremely good in several vertical”. Aside from hiking, Bolt offers a grocery store and food delivery, as well as car rental.

“Micromobility is very difficult, and it has the material appearance, but no network effect, such as the way food delivery and hiking [can lead to] Delivery of the grocery store too, ”said Hjelm.

He noted that most people who collect an electronic scooter or an electric bike without Docker are premises that prioritize experience and affordability rather than the possibility of using a “super application” like Bolt.

When they provided them with an example of cyclists who use micromobility services because they recognize the brand – and may not want to download another application – it has stuck to this thesis. Hjelm said he did not think that brand recognition was sufficient to compensate for a worst user experience.

Of course, there is no data proving that here is a better user experience than Bolt. This did not prevent the others on the panel from reaching the heap of bolts.

“Bolt uses the price as the leader in losses,” said Bird’s Washinushi, referring to Bolt’s ability to rely on the income of its other operations to develop its loss micromobility activity. “They reduce the price, and that’s how they acquire installations. I think they don’t make a huge investment in … very good micromobility operations. ”

Washinushi noted that Bird, as well as Dott and Vo, use a lot of data to rebalance vehicles.

“You can throw thousands of vehicles and hope that people get journeys, or you can … Place half of these vehicles in the right place and the right time to optimize the rides and optimize the price,” he said. “And it’s [how] The company has really evolved in the last two or three years … This, for us, in fact a very independent business. »»

In 2024, Bird said that he had reached the profitability of the adjusted Ebitda of $ 19 million – completely the feat of a company that had scraped of the stock market and deposited for bankruptcy Two years ago. See also made his Profitable first year Last year with an adjusted Baiia of $ 17.9 million.

Bolt has not shared financial figures for its micromobility activity. In November 2024, the company said it had struck $ 2.11 billion in annual income Through its commercial units, but has not shared how it has lost. According to local reportsBolt recorded a turnover of approximately $ 2 billion in 2023 on an operating loss of $ 108 million.

Techcrunch tried to follow Hjelm on Wednesday on the reasons for which he wanted to acquire Bolt and if he was in talks with the company.

“I am at the Reunion of Mafia Swedish House and I will think of Bolt tomorrow,” he replied.

Techcrunch will update this story if Hjelm has more to say about the question.