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Electric air taxi developer Joby Aviation has agreed to purchase Blade Air Mobility’s helicopter rideshare business for up to $125 million. Joby will acquire the Blade brand and the company’s passenger business, including operations in the United States and Europe. Blade founder and CEO Rob Wiesenthal will continue to lead the business as a wholly-owned subsidiary of Joby. The deal does not include Blade’s medical division, which will remain a separate entity.
The acquisition provides Joby with immediate access to a network of 12 terminals in key markets such as New York City, with dedicated lounges and terminal bases at various locations. Blade, established in 2014, operates a digital network for booking private helicopter rides on short-hop routes, catering to affluent customers looking to avoid traffic during their commutes or travel to popular destinations like The Hamptons. Joby’s CEO JoeBen Bevirt views the acquisition as strategically important to support the launch of commercial operations in Dubai and global expansion. Joby intends to integrate its software for managing air taxi operations into Blade’s passenger service.
Joby, founded in 2009, has been developing electric vertical takeoff and landing (eVTOL) aircraft for commercial taxi service in cities. The company, backed by Toyota, went public in 2021 through a merger with Reinvent Technology Partners. The agreement with Blade includes a provision to withhold $35 million of the purchase price, contingent on Blade meeting performance goals and retaining key employees.
