Tag Archives: Transport for London

Uber and Bolt will compete in London and they have both a licence valid for 15 months

Uber is not alone in the market. Today, on Tuesday, Estonia-based Bolt launced in London. Uber will also face competition from Indian rival Ola which is backed by Softbank and a start-up backed by Chinese competitor Didi Chuxing.

Bolt, which is also know as Taxify have so far 20,000 registered drivers. In addition; the French app Kapten which is often called Chauffeur Privè, has also entered the market in London. Uber have huge competition with Ola in India and CEO and founder of Bolt, Markus Villig said Uber`s monopoly i London has come to an end.

Bolt are charging drivers much less to use its platform than Uber and that will be a huge challenge for Uber. Bolt will take 15% commission while Uber will take 25% commission for most drivers.

Bolt raised $175 million in funding from Daimler last year, along with funding from Transferwise and Chinese ride-hailing app Didi Chuxing.

The competition in the market can be seen in Uber`s revenue growth which have stalled over the past year. Lyft went public in March this year and Uber will face huge competiton in the U.S market.

The Softbank-backed food delivery company DoorDash has also been a national market share leader, and Uber have launched a pilot of its free-floating bike service called Junp in London. A food-delivery service called Uber Eats.

Uber won back a 15-month licence last year and so did Bolt. Uber was banned in London in 2017 because it was found to not be a «fit and proper» operator. The car-hailing app Bolt was also banned by Transport for London in 2017 because it did not have a licence. Bolt waited 18 months for its licence and now it is valid for 15 months.

London Mayor Sadiq Khan has defended the citys right to cap the number of Uber vehicles, and hes faced a lawsuit from drivers who are claiming racial descrimination over the city`s plans to charge them a daily congestion charge.

Forget about expensive taxi rides and slow public transport and move around fast and affordably. Your driver arrives in minutes.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

 

Advertisements

Leave a comment

Filed under Stocks