Throwback Thursday: Bolt Mobility: The Race to Nowhere - No Golds, No Glory
It’s Throwback Thursday, and today we’re taking a look at Bolt Mobility: The Race to Nowhere – No Golds, No Glory.
Bolt Mobility was a Miami-based micromobility startup that aimed to revolutionize transportation through safe, smart, and sustainable transit solutions. Co-founded by Olympic gold medalist Usain Bolt, Kamyar Kaviani, Sarah Haynes and CEO Ignacio Tzoumas, the company caught the attention of many with its ambitious goals and innovative approach. Tzoumas brought over two decades of financial experience and expertise to the company and his focus on cost-effective, sustainable transportation for underserved communities has been instrumental in the company’s continued expansion. Despite a strong start, the company abruptly shut its doors earlier this year, leaving cities with abandoned equipment and unanswered calls. So, what went wrong?
co-founder and global ambassador
Usain Bolt, the world's fastest man, is a co-founder and brand ambassador for Bolt Mobility. He's a nine-time Olympic gold medalist and passionate about providing safe, affordable transportation for all. He's actively involved in the innovation process and also a philanthropist, who through his foundation, creates opportunities for education and cultural development. He's also a successful entrepreneur with partnerships with Puma, Hublot, and his own restaurant, Usain Bolt's Tracks & Records, shaving company Champion Shave. Usain has transitioned from the sporting world to become a business leader.
Ignacio Tzoumas is the CEO of Bolt Mobility, responsible for the company's management, strategic growth, and commitment to sustainability, access, and community partnership. He has over two decades of financial experience and expertise, and is known for his focus on cost-effective, sustainable transportation for underserved communities. He has extensive experience launching public-private partnerships and has held leadership positions in hedge funds, trading firms and CFO at Edison Group. He is also an active angel investor and mentor for start-up founders and fluent in Spanish.
COO & CO-FOUNDER
Kamyar Kaviani is the Co-Founder and Chief Operations Officer of Bolt Mobility. He has years of experience in the technology space as a former CEO of multiple STEM companies including HyperOffice, HTR, and Saba. He is also the Chairman of Company.com Corporation and executive chairman of Breezio, Inc. Kamyar uses Internship programs to educate and develop future leaders in technology. He has fostered over 500 interns who are now active contributors to the STEM industry. He has brought his talent for leadership and innovation to Bolt to create partnerships with cities to provide safe, environmentally friendly transportation.
Dr. Sarah B. Haynes
CO-CEO, Chairwoman & CO-Founder
Sarah Haynes is the Co-founder, Co-CEO, and Chairwoman of Bolt Mobility. She has over 25 years of experience in business and program development, philanthropy, business strategy, human resources operations, and executive coaching. She is an award-winning leader with a deep understanding of how people interact and is skilled in developing and retaining talent. Her expertise includes micromobility transportation, business development, venture capital, behavioral health, and collaborative consumption. Sarah holds a Ph.D. in Clinical Psychology and has multiple certifications from Universities including Georgetown, Berkeley, and Maryland. She has a track record of developing and operating successful businesses and is experienced in risk management and leadership development.
Usain Bolt, the most famous of the three co-founders, is a Jamaican retired sprinter who is considered one of the greatest sprinters of all time. He holds the world record in the 100 metres, 200 metres, and 4 × 100 metres relay. Bolt is the first athlete to win six Olympic gold medals in sprinting, and an eight-time World champion. He is considered one of the most marketable athletes in the world, and has endorsement deals with several major brands. Kamyar Kaviani, brings experience in technology and transportation as an entrepreneur and business leader. Sarah Haynes, brings experience in urban mobility and micromobility as a transportation planner. Bolt Mobility has raised a total of $41.4M in funding over 5 rounds. Their latest funding was raised on Mar 4, 2022 from a Corporate Round round.
What problem did Bolt Mobility set out to solve:
Timeline of events:
2018, Bolt Mobility was founded with the goal of redesigning city mobility around the world.
What worked and what didn't:
The Results Analysis:
Conclusion and takeaway for Startup founders: