Saudi Press

Saudi Arabia and the world
Tuesday, Jan 14, 2025

Estonian Ride-Hailing Firm Bolt Targets Saudi Growth

Bolt, an Estonian ride-hailing company, is setting its sights on expanding within the flourishing Saudi business landscape.
Having launched in 2013, Bolt now operates in 45 countries and over 500 cities and is valued at around $8 billion.

The company’s co-founder, Martin Villig, indicated in an interview that Bolt has seen a tenfold business increase in Saudi Arabia over the past three years, serving every city in the nation.

Bolt's ambitions align with Saudi Arabia's Vision 2030 goals to develop smart, sustainable cities and transportation. The company seeks to reduce dependency on private cars by enhancing shared mobility services, which can mitigate traffic, pollution, and accidents.

The company has also partnered with the Saudi government, notably during Riyadh Season 2022, and is committed to supporting the nation's expanding tourism and business sectors. Bolts contribution to Saudi Arabia's Vision 2030 involves aligning their service expansion with the Kingdom's strategic plans.

With expertise from operating in various regulatory environments, Bolt collaborates closely with regulators to balance competition and customer satisfaction. The firm has participated in Saudi job localization programs and data sharing to improve mobility solutions.

Having raised over €1 billion since its foundation, Bolt considers Saudi Arabia a ripe investment opportunity, believing that competition benefits the region’s populace. Despite global economic pressures, Bolt boasts significant revenue growth with a focus on sustainability and profit.

In Riyadh alone, traffic congestion and environmental concerns underline the necessity for alternative transportation solutions. Bolt aims to alleviate these issues through its global platform that offers ride-hailing, food delivery, and micromobility services.

The company anticipates ongoing positive financial trends, spurred by circumstances such as Estonia's evolving tech scene and the demand for innovative transportation options. Bolt also provides valuable job prospects in Riyadh, supporting local skill development.

Martin Villig is set to address these topics further at the upcoming LEAP 2024 tech event in Riyadh.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
California Wildfires Set to Become Costliest in U.S. History
U.S. Military Assistance to Israel Surges to $22 Billion in Wake of October 7 Events
Military Appeals Court Upholds 9/11 Plea Deals, Limiting Defense Secretary's Authority
Taliban Imposes New Law: Blocking Windows to Prevent Visibility of Women
Afghanistan has announced war against Pakistan following reports that Pakistani airstrikes killed more than 46 civilians.
Answering incorrectly to the question 'Are you Alawi or Sunni?' in Syria these days could be detrimental to your well-being.
Israeli Military Operations in Gaza, Netanyahu's Corruption Trial, and Global Political Shifts: A Complex Interplay of Geopolitical and Economic Dynamics
Global Developments: Vaccine Controversy, Syrian Rebuilding, Natural Disasters, and Escalating Geopolitical Tensions
Israel's Strategic Maneuvers and U.S. Legal Actions Amidst Syria's Political Upheaval
Global Military Shifts, Gender Inequality, and Economic Alliances: Key Developments in the Post-Assad Era
International Condemnation and Mediation Efforts in Response to Israeli Actions in the Golan Heights Amid Middle Eastern Tensions
Global Tensions and Efforts for Peace: Cross-Cultural Dialogues, Regional Conflicts, and International Diplomacy
Saudi Arabia's Expanding Global Influence: From Water Management Leadership to Cultural and Economic Partnerships
Global Diplomatic Advances: Expanding Judicial, Human Rights, and Geopolitical Partnerships in the Middle East and Beyond
Strengthening UK-Gulf Relations and Addressing Global Challenges: A Diplomatic Overview
Cultural Heritage, Political Change, and Economic Growth: Key Developments Across the Middle East
Key Developments in Middle East Relations, Judicial Reforms, and Energy Partnerships Highlight Saudi Arabia's Vision 2030 Ambitions
Economic Growth and Innovation Drive Middle Eastern Developments: A Look at Egypt's Treasury Bill Success, Saudi Arabia's Expanding US Relations, Sustainability Initiatives, and Vision 2030 Achievements
UK Considers Delisting HTS Amid Complex Regional Dynamics and Global Security Implications
Global Developments: Saudi Arabia Embraces Cashless Innovation, Syria's Human Rights Struggles, Trump's Controversial Plans, Ghana's Leadership Shift, South Korea's Political Crisis, and Saudi-Japan Economic Partnership
Political Turmoil and Economic Ambitions: Macron's Coalition Efforts, MENA Startup Surge, and Global Initiatives in Integration and Innovation
Turkiye Advocates for Syrian Unity Amid Regional Turmoil; Israeli-Lebanese Tensions and Iran's Strategic Moves Highlight Middle Eastern Shifts
Kanlaon Volcano Erupts in the Philippines and Disrupts in the Middle East: Political Shifts, Oil Market Ripples, and Regional Instability
Global Turmoil: Taiwan Enhances Defenses, Indian Schools Face Bomb Hoaxes, and Middle East Conflicts Escalate
Global Political Shifts: From Trump's Strategic Appointments to Middle Eastern Power Realignments
Escalating Conflicts and Strategic Shifts Across the Middle East and North Africa
Syria's Historic Transition: The Fall of Assad and New Geopolitical Dynamics
Global Shifts: Saudi-UK Trade Goals, Syrian Regime Change, and U.S. Post-Assad Strategy
Saudi Arabia's Multi-Faceted Strategy: Embracing Sustainability, Tourism Excellence, and Regional Stability
Saudi Arabia Advances Transparency and Partnerships in Vision 2030 Push
Saudi Arabia Navigates Post-Assad Syria, Fossil Discoveries, and Economic Growth Amidst Regional Turmoil
Geopolitical Maneuvers and Sustainable Developments: Israel's Buffer Zone Tactics, Saudi Arabia's Vision 2030 Innovations, and Egypt's Aviation Advancements
NASA's Artemis II Delayed to 2026, While Saudi Arabia Advances Cultural and Humanitarian Initiatives
Key Global Developments: Saudi Oil Price Adjustments, Surging Makkah Tourism, Syrian Conflict Shifts, and Saudi Pro League Highlights
Global Shifts: Diplomatic Talks, Economic Growth, and Regional Upheavals Reshape the Geopolitical Landscape
Insurgents Enter Damascus as Assad's Regime Faces Historic Collapse
Global Political Shifts: Defense Enhancements, Diplomatic Missions, and Civic Engagement Initiatives
Diplomatic Efforts Highlight Regional Tensions and Cooperation at IISS Manama Dialogue Amidst Humanitarian and Natural Crises
From Gulf Diplomacy to Global Resilience: Key Developments Shaping Regional and International Landscapes
Saudi Arabia Intensifies Immigration Control, Strengthens Diplomatic and Cultural Engagements
Global Political Tensions and Ambitious Developments Amid Regional Security Challenges
Philippines Celebrates Extensive Christmas Season; Saudi Innovations in Maritime Safety, Tourism, and Global Diplomacy; Healthcare Advancements and Regional Tensions Also Spotlighted
PIA Returns to European Skies Amid Saudi Arabia's Vision 2030 and COP16 Initiatives
Global Tensions Rise: Strategic Wins, Diplomatic Strains, and Humanitarian Crises Test Resilience
Global Political Turmoil and Humanitarian Efforts: A Snapshot of International Developments
Tensions and Triumphs: A Global Overview of Diplomatic Efforts, Geological Risks, Corporate Security, Military DEI Debates, Middle Eastern Conflicts, and Notre Dame's Resilient Reopening
Global Developments: Ghana's Election, UK's Smuggling Crackdown, Syrian Conflict Escalation, and US Supreme Court's Jurisdictional Case
Global Conflicts and Humanitarian Crises: A Snapshot of Recent International Developments
Saudi Arabia's Innovations in Marine Science, Arts, Film, Technology, Volunteerism, and Medical Education
Iran's Space Launch Fuels Western Concerns Amid Global Political Unrest
×