Uber Technologies, Inc.'s (UBER.US) competitor Bolt hires advisors for potential IPO.

According to informed sources, Uber Technologies, Inc.'s competitor Bolt Technology OU is currently working with advisors PJT Partners to explore possible scenarios, including an initial public offering (IPO). The sources stated that the company may seek to go public as early as next year. They mentioned that Bolt is still discussing the benefits of listing in Europe or the United States, and may seek other ways to raise funds. The sources also mentioned that the discussions are still in the early stages and plans may change. A spokesperson for Bolt stated in an email, "Like any company considering going public, we have consulted with professional advisors in many areas to seek assistance." "We will continue to evaluate potential listing locations." The spokesperson said that the IPO date will depend on market conditions. Bolt is a company that provides ride-hailing, food delivery, and scooter rental services, and obtained a credit line of 220 million euros (approximately 231 million US dollars) last year. CEO Markus Villig stated that this funding will help the company "prepare for the IPO." The company obtained a valuation of 7.4 billion euros in a financing round in 2022, previously raising 628 million euros from investors such as Sequoia Capital, Fidelity Management, and others. Bolt has been competing with Uber Technologies, Inc. in Europe, Africa, Asia, and Latin America. In the past few months, Bolt has also entered the North American market under the name "Hopp" application. Bolt's plans for an IPO align with the plans of other European tech startups considering going public. Reports indicate that Swedish fintech company Klarna Group Plc plans to conduct an IPO in New York as early as the first half of 2025.