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Bird raises new funding at a $2.5 billion valuation, thanks to longer-lasting scooters

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chawes
735 Rider Guru
 Posted 1 week, 4 days ago

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Lot of cash for a company that can't turn a profit...

...That may have something to do with grim reports that emerged earlier this year about the financial instability of scooter sharing. Bird lost nearly $100 million during the first quarter of 2019, while revenue shrank sharply to only about $15 million, according to The InformationIn the spring, the scooter startup was down to about $100 million left in cash.

https://www.theverge.com/2019/10/3/20895798/bird-scooter-fundraising-valuation-unit-economics

Comments

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    RedANT
    1067 Rider Driver
     1 week ago

    LOL @ $2,500,000,000.00 for a scooter company that charges $1 + a few cents a minute and has HUGE operation costs.  

    They're a bigger investment disaster than Uber and Lyft.  

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      chawes
      OP 735 Rider Guru
       1 week ago

      It's really absurd when you think of it that way. They need ~2.5B minutes of rides to make this up to their investors... That's if they had no expenses...

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    Uberserge
    1113 Rider Driver
     1 week ago

    Another unicorn that'll never be profitable

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    andsold
    74
     1 week ago

    I am never sure how these valuations are actually determined... they always seem quite high to me, but what do I know?