Bird Raises $275 Million in Funding
Bird Rides Inc., a Los Angeles-based electric-scooter sharing service, has raised $275 million in its latest funding round.
Bird Rides Inc., a Los Angeles-based electric-scooter sharing service, has raised $275 million in a Series D funding round.
Following the investment, analysts valued the 2-year-old startup at $2.5 billion. Sequoia Capital and Canadian pension fund Caisse de Depot et Placement du Quebec led the latest round.
Bird CEO Travis VanderZanden says the company now is focused on reaching a breakeven point. He didn’t say when he expects Bird to achieve that goal.
In June Bird acquired rival Scoot for an undisclosed price. Scoot was one of four companies—along with Lime, Uber’s Jump and Ford-owed Spin—that were awarded permits last month to operate free-floating electric scooter rentals in San Francisco.
Ride-hailing firm Lyft Inc. is launching a pilot program in Chicago that will offer participants financial incentives not to drive their own vehicles for a month.
Ride-hailing service Lyft Inc. has been sued by a former Georgia Institute of Technology engineering professor for infringing upon his patented ride-sharing platform.
General Motors Co.’s Maven mobility unit has launched a peer-to-peer car-sharing pilot program in Chicago, Detroit and Ann Arbor, Mich.