Looks like the e-hailing arena in Malaysia could potentially have new competition! Word on the streets is that Estonian ride-sharing firm Bolt will be making moves to operate in Malaysia, joining the ranks of other e-hailing services like Grab.
Many local media outlets have reported that the company recently posted a job listing on LinkedIn for a country manager in Malaysia, hinting at a local launch. According to the job description, the position entails leading the launch of the Bolt app in Malaysia. However, you may be curious about Bolt and why their entry into Malaysia is significant. Well, here are some fun facts about the company:
Bolt Was Founded By A 19-Year-Old
Bolt is the brainchild of Estonian Markus Villig, who was only 19 years old when he developed the prototype for the app, then called Taxify. With only a €5000 loan from his family, Markus started recruiting drivers personally on the streets of Tallinn, Estonia. Markus is now 31 and serves as the company’s chief executive officer (CEO).
The Company Now Operates In More Than 45 Countries
The app was founded in 2013, and by 2014, Bolt began operating abroad. Bolt is now available in over 45 countries across Europe, Africa, Asia and Latin America. According to the Bolt website, the app has over 150 million users in over 500 cities.
Malaysia Will Be Bolt’s Second Southeast Asian Market
Despite serving over 45 countries, Malaysia is only the second Southeast Asian country where Bolt will launch their services. In 2020, Bolt made their first entry into the Southeast Asian market via Thailand. Since then, the app has received favourable reviews, even when compared to current leader Grab.
Bolt Also Offer Food & Grocery Delivery Services
Like Grab, Bolt also offers food and grocery delivery. The additional service is only available via the Bolt Food app and is operational in over 80 cities across 19 countries. The Bolt Food app has over 6 million registered users – but unfortunately, there is no news on whether the company will offer the app here when it launches in the Malaysian market.
Despite their reputation, breaking into the Malaysian market might not be easy for Bolt, given the strong presence of e-hailing firms like Grab and AirAsia Ride. As of reporting, there’s no confirmation of when Bolt will launch in Malaysia, and the company has yet to receive an operations license from the Land Public Transport Agency (APAD). Are you looking forward to using Bolt in Malaysia?
Sources: Lowyat.net, Bolt, Land Public Transport Agency
