Bird Buys Electric Vehicle Startup Scoot -- Update
June 12 2019 - 3:08PM
Dow Jones News
(Adds details)
By Josh Beckerman
Scooter company Bird Rides Inc., which was valued at about $2
billion as of late 2018, has purchased San Francisco-based Scoot
Networks Inc., which rents "Kick" scooters, motorbikes and electric
bicycles.
Scoot's investors include Vision Ridge Capital and Scout
Ventures.
Fellow scooter startup Lime also rapidly increased its
valuation, reaching $2.4 billion as of early 2019.
Earlier this month, Bird introduced its first seated vehicle,
the Bird Cruiser.
Many cities have sought restrictions on the industry, citing
improperly parked scooters and safety risks.
The companies emphasize socially conscious features. Bird says
its "mission is to make cities more livable by reducing car usage,
traffic, and carbon emissions." Scoot said in March 2017 that its
Scoot Mobility Operating System was a "blueprint for shared
electric mobility to solve traffic congestion and emission
challenges."
Last year, Ford Motor Co. (F) bought scooter-sharing company
Spin.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
June 12, 2019 14:53 ET (18:53 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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