Bird, an electric scooter startup has raised $ 100 million funding to launch their service nationwide. The company was established in 2017 by former Uber and Lyft executive Travis Vander-Zanden. It has succeeded in generating a positive buzz in the market in a short span of time. The Company currently operates in Los Angeles and San Diego.
This latest funding will enable the company to explore new territories for business. With the giant sum of upcoming funds, the company is likely to establish a stronger presence in the market. “Today, 40 percent of car trips are less than two miles long. Our goal is to replace as many of those trips as possible so we can to get cars off the road and curb traffic and greenhouse gas emissions,” says VanderZanden in a statement. “With this funding, we can move quickly to bring this vision to communities all across the country.” He added.
Though Uber and Lyft are giants in the ridesharing market, Bird with low charges is preparing the stage to challenge their supremacy to enrich the transport sector for consumers. Uber and Lyft. Electric scooters of Bird are very easy to drive and are specifically designed for relatively short trips.
It is true that many consumers require short and quick rides to work and complete their daily chores. Hence, it is likely that Bird could brighten these lives with a much-needed respite. “Bird has a transformative, last-mile electric vehicle solution with a powerful community of enthusiastic riders, and it’s by far the first-mover in the field,” Antonio Gracias, Valor’s founder, and a Tesla and SpaceX board member, said in a statement. “We believe Bird is writing the next chapter in transportation and is poised to become the next great company in this space.”
On a slightly grim note, Santa Monika and Los Angeles reported a number of road accidents this year which involved Bird scooters. However, the executives at Bird do not seem to believe this is a major cause of concern. In a recently released statement, the company made its position clear “Every mode of transportation is dangerous. But you can’t protect against people not obeying traffic laws.” VanderZanden said.
No matter what the hiccups down the road are, with funding of $ 100 million, Bird set to become Uber of bike sharing companies.
In 2021, Global Economic Growth was 5.5%. But the latest UN Report predicts only 4% Global Economic Growth in 2022,...Read more