Ride sharing business, Bolt, formerly known as Taxify, has launched its food delivery business. Though the Estonian-based company launched the service in the nation’s capital Tallinn, it says it will roll out the service this year in South Africa, Latvia and Lithuania as well.
Bolt which currently operates in 30 countries, is indeed coming into the food delivery business pretty late but it hopes to grab market share with lower prices for consumers and a better cut for delivery personnel, while building on its wide user base. It announced its plans to go into the food delivery business some months after it rebranded its service from the Taxify brand.
“This is a very competitive market,” Jevgeni Kabanov, chief product officer at Bolt, told Reuters in an interview. “However, we have more than 25 million people around the world using Bolt and food delivery has been a popular request for quite some time.”
A couple of months ago, the Uber’s rival raised an undisclosed amount to bump up its valuation to over $1 billion.
“I would say food delivery is the third big product launch for us. It fits very neatly into our strategy,” added Kabanov.
In Africa, Bolt Food will have to contend with other Food delivery services like Jumia Food, UberEats, Mr D and more..
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