The Information got their hands on Bird’s presentation to current investors and the overall picture is not pretty. The e-scooter company, currently valued at $2.3 billion, is low on cash after losing $100 million in the first quarter of 2019. This despite the fact that the scooter company has raised more than $700 million in a year and a half.
As one does when money is tight, the company is looking for a few hundred million extra bucks from investors, The Information further reports, because scooters are the future of urban mobility. It’s worth remembering that Bird’s founder is Travis VanderZanden who, prior to founding a scooter company, was COO of Lyft and VP of International Growth at Uber, the two poster companies for losing a crap ton of money because business models that involve making money is for suckers.
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