Thursday, July 11, 2019

Report: Bird Seeing Huge Losses, Seeking $300M

Despite public pronouncements about big expansion plans today, Santa Monica-based on-demand scooter startup Bird is reportedly burning through cash, and is now seeking $300M more in funding, according to a report published on Thursday. The report--from The Information--says that despite raising $700M in funding over a year and a half, Bird now has less than $100M left due to its burn rate and revenues of only $15M.