Bolt Mobility, the Miami-based micromobility startup co-founded by Olympic gold medalist Usain Bolt, it appears to have disappeared without trace from several of its US markets.
In some cases, the departure has been abrupt, leaving cities with abandoned equipment, unanswered calls and emails, and many questions.
Bolt has stopped operating in at least five US cities: Portland, Oregon, Burlington, South Burlington, and Winooski in Vermont, Richmond, and California. City representatives also said that they couldn't communicate with no one in Bolt, including its CEO, Ignacio Tzoumas.
Bolt he stopped his service in Portland on July 1. Because the company failed to provide the city with updated insurance and failed to pay some outstanding fees, Portland later suspended the permit for Bolt to operate there.
Bolt Mobility was on what seemed to be a growth spurt a few months ago. About us acquired in January 2021 the assets of Last Mile Holdings, which owned the micromobility companies Gotcha y Eye Electric. The buyer opened 48 new markets to Bolt Mobility, most of which were smaller cities like Raleigh, North Carolina, St. Augustine, Florida, and Mobile, Alabama.
After purchasing the assets of last mile, Bolt has agreed to continue as a bike share vendor in Chittenden County, Vermont, including the cities of Burlington, South Burlington, and Winooski.
That license was even renewed in 2022, said Bryan Davis, the county's chief transportation planner.
“A couple of weeks ago we found out that Bolt is ceasing its operationsDavis said, noting that Bolt it ceased operations on July 1, but actually reported to the county a week later. “They have disappeared, leaving behind equipment and unanswered emails and calls. We can't get in touch with anyone, but it looks like they've closed shop in other markets as well."
Davis went on to say that around 100 bikes were left on the ground completely inoperable with dead batteries. Chittenden County has given Bolt a deadline to claim or remove company vehicles, otherwise the county will take over.
Bolt it also appears to have ceased operations in Richmond, California, according to Richmond Mayor Tom Butt's online forum.
"Unfortunately, Bolt closed without prior notification and without removing its equipment from the city ». Butt went on to say that the city is coming up with a plan to remove all the abandoned equipment – about 250 e-bikes that were available at central places like BART stations and the ferry terminal.
Bolt has publicly raised $40,2 million, an amount that does not include a undisclosed investment by Ram Charan Company of India in May. Investors could not be reached for comment.
