March 28, 2024

Web and Technology News

Bird founder Travis VanderZanden officially leaves the nest

Travis VanderZanden’s slow-motion departure from Bird is now complete. The scooter rental company announced in a late-Friday news dump that the executive has stepped down from his role as chairperson of Bird’s board, “effective immediately.” Replacing VanderZanden is John Bitove, who played a role in saving Bird’s bacon this past December via its merger with […]

Bird founder Travis VanderZanden officially leaves the nest by Harri Weber originally published on TechCrunch

Bird stock dips 11% on news of reverse stock split

Shared micromobility company Bird’s share price fell 10.8%, or about two cents, in after-hours trading after the company said it would issue a reverse stock split. The move is Bird’s attempt to get back into compliance with the New York Stock Exchange after it received a delisting notice for trading too low. The news comes […]

Bird stock dips 11% on news of reverse stock split by Rebecca Bellan originally published on TechCrunch

Bird’s weak stock market performance impacts the entire e-scooter industry

Bird’s first-quarter earnings show a company struggling to maintain ridership and revenue — two legs of the profitability stool for the shared micromobility market. Bird did manage to cut costs — that would be the third leg — but it wasn’t enough to convince investors that the scooter company can find its way to profitability. […]

Bird’s weak stock market performance impacts the entire e-scooter industry by Rebecca Bellan originally published on TechCrunch

Bird still has a long way to go to reach profitability

Shared micromobility company Bird reported a somewhat head-scratching fourth quarter and full year 2022 earnings Friday morning. At first glance, Bird’s earnings show a company that beat Wall Street revenue expectations and is promising free cash flow positivity by the end of this year. But at second glance, that revenue beat isn’t as simple as […]

Bird still has a long way to go to reach profitability by Rebecca Bellan originally published on TechCrunch

Bird tanks on word that a Canadian company is saving its bacon

Scooter company Bird is certainly down, but it’s not yet out.  The five-year-old firm says that it and Bird Canada — a separate, private company that licenses Bird’s software and name — will merge “as soon as possible,” with an “estimated total of $32 million in new financing” from Bird Canada’s investors, “$4 million of […]

Bird tanks on word that a Canadian company is saving its bacon by Harri Weber originally published on TechCrunch

Bird may not have enough funds to continue shared micromobility business

Just hours after Bird said it had overstated revenue for more than two years by recognizing unpaid customer rides, Bird dropped a growing concern warning. In a regulatory filing, the company said it might “need to scale back or discontinue certain or all of its operations in order to reduce costs or seek bankruptcy protection.” […]

Bird may not have enough funds to continue shared micromobility business by Rebecca Bellan originally published on TechCrunch

Bird tells SEC it overstated revenue for two years

Micromobility company Bird said Monday it had overstated its revenue for more than two years by recognizing unpaid customer rides. Bird’s audit committee found on Friday that the company’s financial reports spanning the first quarter of 2020 through the second quarter of 2022 “should no longer be relied upon,” according to a U.S. Securities and […]

Bird tells SEC it overstated revenue for two years by Jaclyn Trop originally published on TechCrunch

Bird exits Germany, Sweden, Norway and ‘several dozen’ US, EMEA markets

Shared micromobility company Bird is exiting several markets across the world as it struggles to build an economically viable business, according to a regulatory filing. Bird said it will “fully exit Germany, Sweden and Norway, as well as wind down operations in “several dozen additional, primarily small to mid-sized markets” across the U.S., Europe, the […]

Bird exits Germany, Sweden, Norway and ‘several dozen’ US, EMEA markets by Rebecca Bellan originally published on TechCrunch

Tusk Venture Partners just closed its third fund with $140M, double its predecessor fund

Tusk Venture Partners, the now six-year-old, New York-based early-stage venture firm co-founded by longtime political strategist Bradley Tusk and former Blackstone director Jordan Nof, has closed its third fund with $140 million in capital commitments. That’s double the $70 million that the outfit raised for its second flagship fund, which closed in late 2019. (The […]

Bird changes course, drops vehicle sales in pursuit of profitability

Bird presented its first quarter 2022 earnings on Monday after the bell. Revenue has decreased consistently since the company went public via a special purpose acquisition merger in November last year. As a result, Bird is looking at streamlining resources so it can achieve profitability this year. Bird’s initiatives involve focusing on its most profitable […]

Bird, Lime use Google’s ARCore to power scooter parking solution

Bird and Lime are launching new tools to help alleviate the problem of shared electric scooters parking inappropriately, and both are powered by Google. Both Bird and Lime’s systems, named Bird Visual Parking System and Lime Visual Positioning Service (VPS times two!), respectively, rely on Google’s ARCore Geospatial API, allowing the companies to geo-locate parked […]

Bird tests motorized wheelchair attachment in NYC

Shared micromobility company Bird is launching a limited pilot to test a battery powered attachment for wheelchairs in an effort to increase accessible mobility for disabled persons. The new “adaptive program” will be a part of the New York City e-scooter pilot in the Bronx, which is being expanded this summer. Individuals in the pilot […]

Bird’s Q4 revenues beat expectations, but investors don’t love its conservative 2022 growth forecast

Shared micromobility company Bird disclosed its 2021 fourth quarter and full year earnings on Tuesday after the bell. The report was the company’s second public earnings release after finalizing its SPAC deal in November. Since its combination, the company’s value has fallen, mirroring declines seen in other SPAC combinations. Still, the company raised capital and […]

Bird’s Q4 revenues beat expectations, but investors don’t love its conservative 2022 growth forecast

Shared micromobility company Bird disclosed its 2021 fourth quarter and full year earnings on Tuesday after the bell. The report was the company’s second public earnings release after finalizing its SPAC deal in November. Since its combination, the company’s value has fallen, mirroring declines seen in other SPAC combinations. Still, the company raised capital and […]

Tier Mobility acquires Spin from Ford, marking entry into North America

Tier Mobility, the Berlin-based micromobility operator that has been steadily taking over Europe, is making a sweeping entry into North America by acquiring Spin from automaker Ford. Tier will acquire all of Spin’s 50,000 e-scooters and e-bikes, bringing the German company’s total fleet to 500,000. The companies would not disclose the terms of the deal, […]