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Bird lost 100 million in the first quarter, but it's a unicorn

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Uberserge
1296 Rider Driver
 Posted 3 years, 2 months ago

Check my article in the Rideguru Newsroom.


https://ride.guru/content/newsroom/the-micro-mobility-trend-the-economics-of-it-the-effect-on-rideshare-drivers-part-ii



https://amp-businessinsider-com.cdn.ampproject.org/v/s/amp.businessinsider.com/bird-scooters-lost-100-million-q1-wants-raise-more-report-2019-7?amp_js_v=a2&amp_gsa=1#referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s

Comments

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    HaileyGraff
    25
     3 years ago

    Your profile is a unicorn. Is that a coincidence. 

    Show Hide  3 Replies
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      Uberserge
      OP 1296 Rider Driver
       3 years ago

      Great observation, it's not a coincidence. 😆 I'm an aspiring unicorn.

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        HaileyGraff
        25
         3 years ago

        That’s awesome you are worth a billion dollars. 

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          Uberserge
          OP 1296 Rider Driver
           3 years ago

          Billion pennies for sure. 😆

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    KumarBengi
    90 Rider
     3 years ago

    The question is how they lost the money. Was it due to the investments in R&D and expansion?  Or is it because their pricing just simply doesn’t support the economics. 

    If it’s the latter, this industry is doomed.  Or at the least they need to jack up the price

    Show Hide  1 Reply
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      Uberserge
      OP 1296 Rider Driver
       3 years ago

      Mostly it's pricing, it's all laid out in my article I wrote for Rideguru in the newsroom. They are applying the U/L business model to scooters, dump them into the market and hope for the best to grow top line at all cost. It's a broken model in rideshare, it's a broken model with scooters. Expansion at all cost will get you here, however, they are a 2 billion dollar unicorn on paper. Who cares about profits when someone is throwing money at you. I'd take it too.