“The old name was too restrictive”..Taxify explains the power of their new name ‘bolt’

Business is all about dynamism of the mind and business environment in relation to customer satisfaction.As a result many transformations are seen in business institutions competing with similar industries in the market.

Ride-hailing from Estonia service platform Taxify announced on Thursday that it will be rebranding in South Africa and will now be called Bolt.

The rebrand from Taxify to Bolt is serving a few purposes, co-founder Marcus Villig said. Tapping the basic meanings of “bolt”, the new name implies speed, as well as electricity.

“We are bullish that the future is fully electric and so we wanted a name that moved us away from the combustion engine,” he said.

Putting future engine technology to one side, the move away from using “taxi” in the name also underscores how the startup intends to widen its remit to cover more than just car-based rides. Cars may make up the vast majority of Bolt’s service today, but the plan is to add more scooters, other individual transport modes, and soon public transport links, he said, not unlike CityMapper’s multi-modal approach. “The old name was too restrictive.”