The co-owner of the Estonian mobile technology company Bolt, Markus Villing, sold shares in the company worth 5.9 million euros, Delfi.ee reported, citing his investment company's report last year. Villing owns a stake in Bolt through his investment company Mordor Management. If at the end of 2022 the value of Willing's share in Bolt was estimated at 978.9 million euros, then by the end of 2023 it dropped to 973 million euros. The report therefore shows that Willing's stake in Bolt was sold for €5.9 million last year. Despite the relatively large amount, his stake in Bolt decreased slightly – from 16.99% to 16.88%. Taking into account the proceeds from the sale of shares, Bolt’s value is estimated at 5.45 billion euros, reports the Estonian portal Delfi. As a reminder, Bolt sales revenues increased to €1.7 billion last year, up 37.4% from revenues of €1.2 billion in 2022. The company attributes the revenue growth to improved operating efficiency and expansion of operations. Meanwhile, Bolt's losses also increased last year, to 91.9 million euros. This represents a 27.3% increase from a loss of 72.2 million euros in 2022, according to the company's annual financial report.
