Joby Aviation to buy Blade Air Mobility’s ride-share business

Joby Aviation, the pioneering electric air taxi company, has announced its acquisition of Blade Air Mobility's helicopter ride-share division for a total of up to $125 million. This strategic move allows Joby to gain control of the Blade brand and its passenger operations, which are active in both the United States and Europe. Rob Wiesenthal, the founder and CEO of Blade, will continue to oversee the business as a fully-owned subsidiary under Joby. However, it's important to note that Blade's medical transportation division, which specializes in organ transport, is not part of this deal and will remain independent. This acquisition provides Joby Aviation with immediate access to a network of twelve terminals located in crucial markets, including New York City. Notably, this includes a dedicated lounge and terminal bases at major airports such as John F. Kennedy International and Newark Liberty, as well as strategic locations in Manhattan and Wall Street. Founded in 2014, Blade has carved a niche by operating a digital platform that facilitates private helicopter rides on shorter routes, catering to affluent customers eager to bypass the often congested traffic from the suburbs into Manhattan or to popular getaway destinations like The Hamptons. In 2024 alone, Blade transported over 50,000 passengers, expanding its reach internationally with routes connecting Nice, France, to Monaco and Saint-Tropez. JoeBen Bevirt, the founder and CEO of Joby Aviation, characterized this acquisition as “strategically significant,” emphasizing its role in enhancing the company's commercial operations in Dubai and its broader global expansion plans. The integration of Joby's advanced software, designed for managing air taxi services, into Blade's passenger offerings is also on the horizon. Since its inception in 2009, Joby has devoted over a decade to developing, certifying, and producing a groundbreaking electric vertical take-off and landing (eVTOL) aircraft aimed at revolutionizing urban taxi services. Interestingly, the future of Blade's service will transition from helicopters to electric air taxis, aligning with Joby's innovative vision. Joby, which received backing from Toyota, made its public debut in 2021 following a merger with Reinvent Technology Partners, a special purpose acquisition company associated with notable tech entrepreneurs Reid Hoffman and Mark Pincus. As part of the acquisition agreement, $35 million of the purchase price will be contingent on Blade meeting specific performance targets and maintaining key personnel.