RIDEGURU
Check my article in the Rideguru Newsroom.
Bird lost 100 million in the first quarter, but it's a unicorn
Posted 5 years, 4 months ago
Posted In
Rideshare News
News, media buzz around the industry, cool images, and more. Share them here, and discuss with others in the rideshare industry, including Uber drivers, passengers, journalists, and rideshare companies.
Posted By
Sergio Avedian (Uberserge)
1300
Rider
Driver
Ride Apprentice from Los Angeles, CA
Blogger, Podcaster, Active Rideshare Driver/Coach
Active Uber/Lyft driver in Los Angeles, contributing writer for Rideguru and RSG (The Rideshare Guy), podcaster, rideshare driver coach, independent consultant to rideshare and tech companies.
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Comments
Your profile is a unicorn. Is that a coincidence.
Great observation, it's not a coincidence. 😆 I'm an aspiring unicorn.
That’s awesome you are worth a billion dollars.
Billion pennies for sure. 😆
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
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.