Bolt founder story - how to make an impact? Martin Villig / TechChill 2020, Riga, Latvia
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- Challenges of building unicorn in Europe - How to make an impact as company or founder - Bolt green plan and education plans - How to choose most impactful career?
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Bolt founder story - how to make an impact? Martin Villig / TechChill 2020, Riga, Latvia
- 1. Bolt Founder Story Impact of unicorn? TechChill 2020
- 2. Tallinn taxis in 2013
- 3. 750K drivers 30M passengers 150+ cities in 36 Countries
- 5. 50% On-demand Personal cars Public transport 46%2018 43%28% 29%2028 4%
- 6. Bolt growth in last 3 years 3M ➟ 30M Riders 100 ➟ 1500 Team 11 ➟ 35 Countries 2014 2016 2019
- 8. Lean & responsible ● We do more with less ○ Riders win 5% ○ Drivers win 5% ● Lean operations & smart tech Ride cost Bolt Others Driver earnings 1.5 2.5 8 7.5
- 9. All Bolt rides in Europe are now 100% carbon-neutral
- 10. Ride-hailing MaaS Car 🚙 Moto 🏍 Pooling 👨👨 👦👦 Minibus 🚐 Self-Driving Cars 🤖 Public Transport🚌 Rentals Bike 🚲 EBike ⚡️Scooter 🏍 Car 🚗 Data for Cities Multi Modality 🤖 Commute 👨 👨 Delivery Food 🏍 Packages 📦 Groceries 🏍
- 13. The team ● 1500 people, 50+ nationalities ● 550 people in Estonia, more than 40 nationalities ● Hiring: attitude vs experience ● Personal growth plans? careers.bolt.eu
- 15. Mentoring & Angel Investments martinvillig.com
- 18. Free PDF / audio book
- 19. Thanks. Questions? ● Email me martin@bolt.eu ● Read more martinvillig.com ● Download @ Bolt.eu ● Promokood: TC2020 (1st ride free up to €5)
Editor's Notes
- Martin, entrepreneur for 20 years, see more from www.martinvillig.com
- Bolt started in Tallinn, Estonia in 2013: Tallinn is relatively small city with 450,000 population, 35 different taxi dispatch centers Most taxi drivers were divided into small fleets, so often there was no free car in your area Long waiting times, mostly cash payments, fluctuating quality = classic Eastern-European taxi service Our plan was to aggregate all taxis to one system and it happened within 18 month from launch - Today all drivers accept electronic payments, get raitings after every ride and average ETA is 3 minutes
- Bolt’s mission is to enable reliable and affordable transportation in cities Bolt is market leader in Africa and Eastern-Europe, strong 2nd player in Western-Europe We create flexible work opportunities for tens of thousands of people every month We are solving unemployment and working for additional training/re-skilling opportunities for drivers
- Lot of industries have already been won by tech companies. This is not the end of it, but the tech revolution is just getting started Lots of you in the audience will have bold plans to transform an industry, but you need to always ask yourself, “does that scale” Majority of global tech unicorns come from US and China, Europe has only 10% of global unicorns and they are lagging in terms of valuations Bolt would like to inspire young entrepreneurs to build their companies long term in Europe, do not sell / exit early – build to make an impact https://learnbonds.com/news/ten-largest-unicorns-in-the-world-worth-close-to-550bn/
- Its usually 50 trips per month / per capita = Riga 750K / 37M trips per month Personal cars will be more expensive, because they sit idle 90% of time and are no bulk discounts on energy/maintenance. Public transport will be cheaper than On-Demand, because multiple people will be in the same vehicle. On-demand will grow from 3 main factors: ridesharing, pooling and self-driving cars = about 10x growth from today
- Bolt is 3rd fastest growing company in Europe by Financial Times - https://www.ft.com/content/238174d2-3139-11e9-8744-e7016697f225 # of trips growing 10-15% every month. Bolt expanded to more than 60 cities in 2020. How this was possible? Very effective OPEX costs and expansion model. Early expansion started with remote Skype call based expansion to Africa without actually going there physically.
- Target - top 1 in Europe and Africa We already are the best way to move for certain people and situations. If you live in the city and don’t have a driver’s license / car / parking spot, then Bolt has the best price / convenience ratio. If you are partying in the city and are either drunk or public transport is not available, Bolt is the only way to move.
- We differ mainly in two areas: driver focus and localisation. Being smart about how we grow the company and focusing our operations on efficiency allows us to charge smaller commissions and pass the savings on to passengers and drivers. Big companies grow fast, they get greedy and make mistakes. If you stay lean and focused, you could win in long term. We’re focused on our drivers and treat them better.
- https://blog.bolt.eu/en/all-bolt-rides-in-europe-are-now-carbon-neutral/ https://blog.bolt.eu/en/what-is-carbon-offsetting-and-why-is-it-important/
- Landscape of urban transportation services. Bolt is just starting to take on those opportunities.
- Consider variables and offer choices to reach your destination: Distance - 200m, 2km, 20km? Weather - walking, scooterish, car People - alone or many Price - shared is cheaper Dedicated or not And bigger - smart cities: Traffic routing Sharing generic data with cities
- Bolt Food - launched in August 2019 in Tallinn, now live in Estonia, Latvia and Lithuania. Planning to launch in South Africa and more countries in 2020. Using the the infrastructure and experience that we built up in ride-hailing, efficient operations => lower delivery prices for customers, better earnings for couriers
- http://careers.bolt.eu
- Giving back to community & society? Reasonable company
- Mentoring young founders and helping with angel investments Printify.com – Latvian growth startup Mysportit.com - SMART BOOKING ENGINE FOR OFFSITE VENUES Carget.co.za – enabling cars for south-african people Salto.io – building European founders network 99math.com – gamify math studies and competitions
- http://heategu.ee/educationfund
- How can you make most good and impact during your life? Average Estonian or Latvian salary puts you into 90% most richest people in the world. What’s a fare amount to help others that are doing worse? Work for charities, earn to give or just donate 10% of annual income?
- How can you make most good and impact during your life? Average Estonian or Latvian salary puts you into 90% most richest people in the world. What’s a fare amount to help others that are doing worse? Work for charities, earn to give or just donate 10% of annual income? http://80000hours.org