Background
Bird scooter company ownership and acquisition talks
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Who owns Bird scooter company?
- Bird was founded in 2017 by Travis VanderZanden, formerly an executive at Uber and Lyft. He has stated that Bird is "not for sale."
- Uber has engaged in talks with Bird and Lime about potentially acquiring one or both companies to boost its electric scooter and bike rental business Jump.
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Did Uber buy Bird?
- Although Uber has been considering purchasing Bird to enhance its own electric rental business, Bird’s CEO has reiterated that the company is not for sale.
- Uber’s struggle with decreased ridership during the pandemic has fueled its interest in expanding into the electric scooter market through acquisitions.
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Uber’s Potential Acquisition
- Uber has been in talks with e-scooter startups Bird and Lime for a potential acquisition.
- Both Bird and Lime face financial pressures, prompting options like fundraising, acquisition, or merging.
- While Uber already collaborates with Lime and owns a part of it, a potential deal with Lime appears more feasible than with Bird.
Financial Considerations
- Uber is exploring acquiring an electric scooter company, aiming to leverage the growing market and diversify its offerings.
- Potential multibillion-dollar deals with Bird or Lime could further solidify Uber’s presence in the electric scooter industry.
- Lime’s valuation suggests it may be a more financially viable option for Uber compared to Bird, given existing partnerships and cost-effective advantages.