Article may be outdated

This article is 54 days old. Some details may have changed since publication.

LSM·2 min read·easy

Bolt boasts profit for first time in company's history

L
LSM English
Bolt boasts profit for first time in company's history
AI Summary

Estonian ride-hailing company Bolt has reported its first-ever annual net profit of 900,000 euros. The company saw a 14% revenue increase and continues to expand its operations across more than 50 countries.

Why it matters

Achieving profitability is a significant milestone for a major gig-economy platform that has historically prioritized rapid growth over immediate earnings.

Dive DeeperCreate a free account to unlock

According to its annual report, "Bolt" posted a net profit of 900 thousand euros last year. Meanwhile, the company’s revenue grew by 14% compared to the previous year, reaching 2.27 billion euros. According to its own data, Bolt paid 49 million euros in payroll taxes to the Estonian government last year, which is nearly a fifth more than the previous year. The company employs more than 4,000 people, and its customer base exceeds 200 million. "Bolt" was founded in 2013 in Estonia and today operates in more than 50 countries and more than 850 cities. It should be noted that in Latvia, the Competition Council investigated whether the company held a monopoly in the market and found no evidence of abuse of a dominant position.

Continue reading on Headlinne

Create a free account to read the full article.

Read full article →
businesstechnology
Political Bias
Center
LeftLean LCenterLean RRight
Confidence: 95%

The report provides financial data and corporate history without editorializing.

Get smarter about the news

Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.

Create free account

Already have an account? Sign in