TALLINN: Estonia's Bolt, a popular ride-sharing service in Eastern Europe and Africa, on Wednesday launched food delivery service in its home town of Tallinn, the nation's capital, and said it plans to roll out Bolt Food this year in South Africa, Latvia and Lithuania as well.
"This is a very competitive market," Jevgeni Kabanov, chief product officer at Bolt, told Reuters in an interview."However, we have more than 25 million people around the world using Bolt and food delivery has been a popular request for quite some time." "I would say food delivery is the third big product launch for us. It fits very neatly into our strategy," Kabanov said.In the first half of 2019, Uber said revenue from its Uber Eats almost doubled from a year earlier to US$1.1 billion. But the sector has proved challenging for a number of start-ups as investment has declined from a peak in 2015.