You see those impressive electric scooters lining the streets of almost every major city in the US, and now it is expected to grab more eyes.
Startups like Bird and Lime have integrated dozens of US cities with their proficient e-scooters in the last few months itself. Where investors are pouring millions into these companies with the hope of high yield returns, we should also acknowledge the fact that money is just not enough to win this aggressive race.
Uber, a foremost name in ride-hailing apps, has a clear objective of providing all on-demand transportation facilities, and so it is now inclined towards cornering the markets of electric scooter rental business.
Uber is in talks with Bird on a possible multibillion-dollar acquisition. Uber already owns a small stake in Lime, which is also a direct competitor of Bird.
According to Bloomberg, the ride-hail giant is investing in Lime in a new $335 million round of financing led by Alphabet’s venture arm, GV, that values the electric scooter company at $1.1 billion. It also plans on slapping its logo on some of Lime’s scooters.
According to ‘The Information’ about the ongoing talks, Bird CEO Travis Vander Zanden has stated clearly that “Bird is not for sale,” which leaves no room for any negotiation or might be one of the company’s tactics.
In one of the podcasts hosted by Recode Decode, Sunil Paul, co-founder of sidecar shared his thoughts about the broader transportation industry, including self-driving cars and bike sharing and stated that “The scooter war will be a bloodbath and Uber will win.”
Regardless of who wins, you would now witness a surge in e-scooters hailing down the streets.