Bolt: Uber rival appoints first UK boss
Bolt, the Estonian ride-hailing platform, has appointed a new UK boss in a sign of its intention to double down on its second biggest market.
Kimberly Hurd will join as the company’s first senior general manager for the UK, following stints in the fintech sector and at the Indian food delivery app Zomato.
Top of Hurd’s intray is a long-running dispute surrounding VAT charges on fares, with a key Supreme Court judgement against rival Uber expected this summer.
Bolt wrote to Chancellor Rachel Reeves in March warning it had witheld £200m of investment in the UK over the last three years as ministers dither over the so-called “taxi tax,” which adds a 20 per cent VAT charge to fees.
Hurd told City PM the firm wanted to “invest more, that’s why I’m here to grow the market,” however she said more clarity was needed from government over VAT.
“Bolt like every other player is just looking for some degree of transparency and certainty around the topic.”
Bolt to list in the UK?
It was reported earlier in the year Bolt had hired advisers to explore a much-anticipated IPO, with Europe and US markets all possible options.
Asked about London as a listing destination, Hurd said she would not speculate on any details given any IPO would be “highly dependent on market conditions.”
“My role is to focus on execution, market share and growth. That’s what I’m here to do.”
Higher up on the new bosses’ list of priorities is investment in “driver experience” and working on how the ride-hailing industry can transform transport in cities like London, she said.
Renewed focus on its drivers’ follows Bolt losing a legal challenge last November against classing its drivers as “workers.” The ruling at the Employment Tribunal opened up the door to thousands of people gaining employment benefits and a possible £200m compensation bill for the firm.
On drivers’ rights, Hurd said: “It’s the core of what I’m passionate about. You think about we’ve launched the industry first pension program and affordable dash cams and a whole host of safety features.”
Discussing wider ambitions for UK transport, she said: “70 per cent of users don’t own a car in the UK, so really the future of public transport more generally is a mesh between public transport and ride sharing. So we definitely see the bigger vision of transforming how cities function.”