Uber Rival Bolt Relaunches in London After Two Years in Exile
- Ride-hailing service already major player in Europe, Africa
- Valued at $1 billion in most recent Daimler-backed fundraising
Source: Bolt
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Uber Technologies Inc. rival Bolt, formerly known as Taxify, has relaunched in London -- nearly two years after its operating license was revoked by the city’s transit authority.
The Estonian company, backed by Daimler AG and most recently valued at $1 billion, said Tuesday it would compete in the U.K. capital by offering lower fares for riders, and by taking a smaller cut of driver earnings compared to its rivals.