Bird lost $100 million in 3 months

One of the largest scooter companies that’s taking over cities around the world reportedly lost $100 million in three months — and wants to raise even more money

Bird has its eyes on another capital raise, The Information reported Thursday.

The scooter company, one of the largest in a swarm of similar micromobility startups, has already raised $718 million in its short lifetime, according to Pitchbook data, and now it reportedly needs up to $300 million more by the end of the summer.

A fresh infusion could raise the Santa Monica, California-based company’s valuation beyond its current $2.3 billion, potentially helping Bird pass its competitor Lime as the most highly valued startup in the space.

Read More at Business Insider

Read the rest at Business Insider

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