This new funding was expected to help the company to upgrade its fleet with a focus on a more sustainable Bird Two model. In October 2019, the firm successfully closed Series D funding, raising $275 million and reaching 2.8 billion valuation. This funding was intended to help the company become profitable and also continue to do further research and development of the vehicle. In July 2019, the company was raising Series D funding, led by venture capital firm Sequoia Capital and CDPQ. In July 2019, Bird was said to be valued at $2.5 billion. The acquisition was to allow Bird to operate shared electric scooters in San Francisco. The deal was expected to be valued at around $25 million in a combination of cash and stock. On June 12, 2019, Scoot Networks was acquired for an undisclosed value as a wholly owned subsidiary of Bird. In January 2019 Axios reported that Bird was raising $300 million in new funding led by Fidelity as an extension of its C funding round. In November 2018, Bird released the Bird Platform, a program based on the company's mobile app and Bird Zero vehicles that allowed independent operators to use Bird's infrastructure to run their own fleet of shared, branded electric scooters. The Bird Zero was designed for ride sharing with "more battery life for longer range, better lighting for increased visibility, and enhanced durability for a longer life-span." In October 2018, Bird announced its Bird Zero vehicle. In September 2018, Bird claimed 10 million rides. In June 2018, Bird raised an additional $300 million, valuing the company at $2 billion. It had its Series A round of funding in February 2018, raising $15 million led by Craft Ventures this was followed by a Series B round in March for $100 million, led by Index Ventures and Valor Equity Partners, and a venture round in May for $150 million from Sequoia Capital, becoming the fastest company to ever reach the $1 billion " unicorn" valuation. : 9 History īird was founded in September 2017 by Travis VanderZanden, formerly an executive at Lyft and at Uber. : 43 Founded in September 2017, Bird has distributed electric scooters designed for short-term rental to over 400 cities. is a micromobility company based in Miami, Florida.
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