Santa Monica Observer - Community, Diversity, Sustainability and other Overused Words

Bird Scooter Inc Valued at Over Two Billion Dollars, Reports Bloomberg News

Company's Valuation Astonishes Experts. "Get Off My Lawn Anyway," say Residents

 

City Councilmember Pam O'Conner supports the scooters, noting that they are quiet and safer than cars, at only 16 miles per hour.

Bird started in Santa Monica and annoyed residents to the point where they took to City Hall to get rid of it. IN other words, it had the same business plan as Uber. Which isn't too surprising given that it was started by a former Uber Executive.

Ride it without a helmet and the SMPD will give you a $197 ticket reports one rogue soccer mom type rider.

Recently, the City of Santa Monica approved an 18 month pilot program for the scooter companies, including Lime. City Councilmember Pam O'Conner supports the scooters, noting that they are quiet and safer than cars, at only 16 miles per hour.

And now it's worth $2 billion, the fastest company in history to acheive this milestone, reports Bloomberg News:

Bird Worth $2 Billion

Scooter-rental startup Bird Rides Inc., which is raising money at an unprecedented pace, is seeking another $150 million, according to a securities filing. A deal would up the company's valuation to $2 billion.

If it completes the new fundraising effort, it would double the amount Bird raised at half the valuation just weeks ago, people familiar with the matter said. Sequoia Capital led that round with participation from Accel and other investors, said the people, who asked not to be named because the details are private.

The report, which was in Bloomberg News, noted that a spokeswoman for Bird declined to comment.

Bird, a year-old company founded by a former Uber Technologies Inc. executive in Santa Monica, has achieved soaring valuations at an astounding pace. Investors hope to recreate the phenomenon of Uber with another high-flying transportation startup. Bird lets people in U.S. cities rent electric scooters found on sidewalks for short rides using an app.

Many Santa Monica residents object to the scooter being left on public rights of ways and sidewalks.

 

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