E-scooter and e-bike rental company Bird Global will merge with Bird Canada — an independent company that licenses Bird’s name and software — in a deal that will inject an estimated $32 million in new financing into the struggling company.
The merger will add additional profitable operations to Bird’s global platform, while consolidating North American operations, the release added. Bird Global had a tumultuous year after it went public on the New York Stock Exchange in November 2021 in a deal that initially valued Bird at $2.3 billion.
The merger with the more profitable Bird Canada could inject new life into the company, but the Canadian operation will also face challenges, such as tougher regulatory approaches to e-scooters and a crowded micromobility space with numerous competitors. Lyons said the company has advanced safety technology such as “smart sidewalk protection” which gives riders travelling on a sidewalk an audible alert and mobile notification, to get off the sidewalk and use a bike lane,It’s this type of safety technology that sets Bird Canada apart from competitors such as Lime and Razor, Lyons said.
One comment - before mine - after 15 hours. You've touched a nerve.