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Caisse invests US$50-million in electric scooter company Bird Rides Inc.

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Caisse invests US$50-million in electric scooter company Bird Rides Inc. GlobeTechnology

This translation has been automatically generated and has not been verified for accuracy.The Caisse de dépôt et placement du Québec has invested US$50-million in electric scooter startup Bird Rides Inc., whose electric vehicles are now in more than 100 cities around the world including Calgary and Edmonton.

Bird founder and chief executive Travis VanderZanden said his company was focused on improving the revenue per scooter “instead of spending to grow the company at any cost,” echoing recent concerns surrounding the delayed initial public offering of money losing office-sharing company We Co.The arrival of fleets of rentable dockless electric scooters in urban centres around the world has attracted a lot of buzz in the past two years, with Bird and rivals, including Neutron Holdings Inc.

 

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