Buzz

Bird, One of the World’s Largest Scooter Startups, Lost $100 Million in Three Months

Bird has its eyes on another capital raise, according to a report. Business Insider: The scooter company, one of the largest in a swarm of similar micromobility startups, has already raised $718 million in its short lifetime, according to Pitchbook data, and now it reportedly needs up to $300 more by the end of the summer. A fresh infusion could raise the Santa Monica, California-based company’s valuation beyond its current $2.3 billion, potentially helping Bird pass its competitor Lime as the most highly valued startup in the space. The Information also reported that Bird lost $100 million in the first quarter of 2019, with its revenue shrinking to $15 million during the same time period.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

3 × five =

This site uses Akismet to reduce spam. Learn how your comment data is processed.