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Voi CEO says he’s open to acquiring Bolt’s micromobility business
- Voi, a micromobility startup, is interested in acquiring Bolt's micromobility business, although Bolt's business may not be up for sale as per Bolt's response to inquiries.
- Voi CEO, Fredrik Hjelm, mentioned that Bolt faces challenges as it operates in multiple verticals beyond ride-hailing, such as grocery and food delivery.
- Hjelm emphasized the complexities of the micromobility sector, noting the absence of network effects seen in services like food delivery and ride-hailing.
- He highlighted that most micromobility users prioritize experience and affordability over the convenience of using a 'super app' like Bolt.
- Hjelm dismissed the notion that brand recognition alone is sufficient to compensate for a subpar user experience in micromobility services.
- Other panelists criticized Bolt's pricing strategy, mentioning its reliance on price discounts to drive acquisitions and the importance of data-driven vehicle rebalancing practices.
- Bird's Washinushi praised the use of data to optimize vehicle placement for improved ride efficiency and profitability in the micromobility business.
- Bird and Voi reported profitability in recent years, while financial details of Bolt's micromobility business remain undisclosed.
- Hjelm humorously deferred further comments on the potential acquisition to a later date while attending a different event.
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