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Ride-hailing app Taxify has undergone a name change and will now be known as Bolt. The company made this known in a series of tweets from the various countries in which it operates.

Reasons behind the change

In an interview with Techcrunch, Chief Executive Officer and co-founder Mark Villig stated the move was necessary so as to reflect a move away from the internal combustion engine.

“We are bullish that the future is fully electric and so we wanted a name that moved us away from the combustion engine.The old name was too restrictive.””

In addition to its regular operations, the company has an electric scooter service known as Bolt.

The report also indicates the startup may be considering a fundraising round.

Taxify was founded in 2013 by Markus Villig in Estonia. The company has operations in 25 countries and 18 regions. In Africa, it operates in Kenya, Egypt, South Africa, Tanzania, Uganda, Ghana and Nigeria.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com


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