this post was submitted on 20 Dec 2023
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In a press release today, Bird confirmed that it had entered into a “financial restructuring process aimed at strengthening its balance sheet,” with the company continuing to operate as normal in pursuit of “long-term, sustainable growth.”Founded in 2017 by former Lyft and Uber executive Travis VanderZanden, Bird is one of numerous startups to introduce dockless micromobility platforms around the world, allowing city-dwellers to pay for short-term access to electric scooters or bikes.
Things didn’t improve, and with its share price continuing to plummet, CEO VanderZanden departed in June with the company eventually delisted from the NYSE in September.
“This announcement represents a significant milestone in Bird’s transformation, which began with the appointment of new leadership early this year,” Washinushi said.
We remain focused on our mission to make cities more liveable by using micromobility to reduce car usage, traffic, and carbon emissions.”
This latest news comes just a day after competitor Micromobility.com was delisted from the Nasdaq over its failing stock price, three years after it too went public via a SPAC merger.
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