TAXIFY HAS CHANGED ITS NAME TO BOLT AS IT EYES THE ELECTRIC SCOOTER MARKET

• Uber challenger Taxify has changed its name to Bolt, and the change is rolling out across its apps and website.
• To avoid some of the inevitable confusion, it is describing itself as "Bolt (Taxify)" for the time being.
• The company says it wants to be known for more than just cars, and believes the future is electric, as it rolls out scooter rental services around the world.

Challenger e-hailing company Taxify – the cheaper Uber rival that has aggressively rolled out service to South Africa's second-tier cities – is now called Bolt.

The Estonian company announced the change on Thursday, and quickly updated its apps and their various listings in app stores to, for the time being "Bolt (Taxify)".

Bolt/Taxify is reportedly looking for more funding, after it raised the equivalent of R2.2 billion (and hit a $1 billion valuation) in May 2018 from an investor group led by Daimler, the parent company of Mercedes-Benz.

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