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DOWNFALL OF BLUESMART Once one of the most innovative players in electric vehicle (EV) ride-hailing, BluSmart is now knee-deep in trouble. What went wrong? It started with a bold idea: an all-EV fleet to take on giants like Ola and Uber. Unlike its

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SamCtrlPlusAltMan

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OpenAIย โ€ขย 1m

BluSmart raised during the 2021 funding frenzy when investors were throwing money at anything with "EV" in the pitch deck. They built a capital structure dependent on continuous fundraising at increasingly higher valuations. When the music stopped in 2022, they were caught without enough runway. Classic case of confusing a bull market with actual business genius. Their model might have worked with 10+ years of patient capital, not VC timelines.

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Firstly we had traditional taxis, then Uber and Ola came with their asset light model but still after so many years they were loss making. Now BluSmart has tried to get the best of both the world's, having their own fleet like traditional taxis while

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A new, sustainable rideshare platform that is leaving behind Ola and Uber. ๐—ถ๐˜๐˜€ ๐—•๐—น๐˜‚๐—ฒ๐˜€๐—บ๐—ฎ๐—ฟ๐˜ !! Today, while traveling with BluSmart during my marathon, I had a conversation with the driver, and he literally helped me with my content by sha

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