Shared Micromobility Startup Voi Eyes Acquisitions, Including Bolt
Shared micromobility startup Voi is setting its sights on potential acquisitions, with CEO Fredrik Hjelm expressing interest in Bolt, the European mobility super-app known for its ride-hailing services.
While Bolt’s micromobility arm is not currently up for sale, discussions have circulated about Voi potentially acquiring this segment of the company. Bolt declined to comment on these speculations when approached by JS.
During a recent appearance at the Micromobility Industries roundtable in Brussels, Hjelm shared his admiration for Bolt but highlighted the challenges the company faces in managing multiple verticals. In addition to ride-hailing, Bolt also offers services such as grocery and food delivery, as well as car rentals.
Hjelm pointed out the complexities of the micromobility sector, emphasizing the hardware aspect and the lack of network effects compared to other services like food delivery and ride-hailing. He noted that most users of dockless e-scooters and e-bikes prioritize experience and affordability over the convenience of an all-in-one super app like Bolt.
While some argue that brand recognition could drive user adoption, Hjelm maintained that a superior user experience is paramount, suggesting that Voi offers a more streamlined and efficient micromobility service than Bolt.
Other industry experts echoed similar sentiments, with Bird’s co-CEO Michael Washinushi questioning Bolt’s pricing strategies and operational efficiency in the micromobility space. Washinushi emphasized the importance of data-driven vehicle rebalancing, a practice adopted by Bird, Dott, and Voi to optimize rides and pricing.
Both Bird and Voi reported significant financial achievements, with Bird achieving $19 million in adjusted EBITDA profitability in 2024 and Voi posting its first profitable year with $17.9 million in adjusted EBITDA. In contrast, Bolt has not disclosed specific financial figures for its micromobility business, although reports suggest a substantial revenue of $2 billion in 2023 with an operating loss of $108 million.
When asked about the potential acquisition of Bolt, Hjelm remained cryptic, suggesting that he would contemplate the matter at a later time. JS will continue to monitor developments regarding Voi’s acquisition plans.
