Joby Aviation Acquires Blade Air Mobility's Rideshare Business

Joby Aviation Acquires Blade Air Mobility’s Passenger Business

Joby Aviation, a leading developer of electric air taxis, has reached an agreement to acquire Blade Air Mobility’s helicopter rideshare business. The transaction is valued at up to $125 million.

Details of the Acquisition

The acquisition encompasses the Blade brand and the entirety of its passenger operations, spanning both the United States and Europe. Rob Wiesenthal, the founder and current CEO of Blade, will remain at the helm, leading the business as a fully-owned subsidiary of Joby Aviation.

Notably, Blade’s medical transport division, specializing in organ delivery, is excluded from this deal and will continue functioning as an independent entity.

Expanding Infrastructure and Network

This acquisition provides Joby with immediate access to a robust network of 12 terminals situated in crucial markets.

Key locations include New York City, featuring a dedicated lounge and terminal bases at John F. Kennedy International Airport, Newark Liberty Airport, Manhattan’s West and East Sides, and Wall Street.

Blade’s Business Model and Growth

Founded in 2014, Blade operates a unique digital network. It connects passengers with private helicopter rides along short-distance routes, rather than owning its own aircraft.

The service has gained traction among affluent travelers seeking alternatives to congested roadways for commutes from suburban areas to Manhattan, or for trips to destinations like The Hamptons. In 2024, Blade transported over 50,000 passengers, including those utilizing routes from Nice, France, to Monaco and Saint-Tropez.

Strategic Implications for Joby

JoeBen Bevirt, founder and CEO of Joby Aviation, characterized the deal as a “strategically important” step. It will facilitate the launch of commercial operations in Dubai and subsequent global expansion.

Joby intends to integrate its proprietary software, designed for managing air taxi services, into Blade’s existing passenger platform.

Future Vision: Electric Air Taxis

Established in 2009 by Bevirt, Joby has dedicated over a decade to the development, certification, and production of an eVTOL (electric vertical take-off and landing) aircraft for urban air taxi services. The company is also actively pursuing opportunities within the defense sector.

Ultimately, the rebranded Blade service is planned to transition from helicopters to utilizing Joby’s electric air taxis.

Joby’s Public Listing

Toyota-backed Joby Aviation became a publicly traded company in 2021 through a merger with Reinvent Technology Partners, a special purpose acquisition company. This SPAC was supported by LinkedIn co-founder Reid Hoffman and Zynga founder Mark Pincus.

Terms of the Agreement

The purchase agreement includes a holdback of $35 million. This portion of the price will be released contingent upon Blade achieving specific performance targets and retaining key personnel.