He added that achieving company-wide profitability "mainly comes down to the question of how quickly we want to expand."
"London and most of these big markets require huge investment up front to attract enough drivers and customers to the platform," he said. "If we were to stop expanding, we would break even next year."At 25, Villig is the youngest founder of a European unicorn, or privately held tech company valued at $1 billion or more.
Following Bolt's successful launch in London, Villig said he "absolutely" sees the firm expanding further across theinto other cities like Manchester and Liverpool, but didn't offer a concrete timeline for when that would happen. "Our strategy has always been that we start in the capital, which is usually the biggest opportunity and has the biggest problems to solve. Then we go down into the smaller cities," Bolt's chief said.looking to chip away at Uber's dominance, particularly in London. Following the decision by Transport for London not to renew Uber's license last week, Bolt and French rival Kapten instantly started putting out positive publicity on the move.
To complicate matters further, another taxi-hailing app is looking to make its debut in London in a matter of weeks. India's Ola, which is also backed by Uber investor
Source: Financial Digest (financialdigest.net)
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