Bird Acquires Scoot

Electric scooter company Bird has acquired electric scooter and moped startup Scoot Networks . “The acquisition is a strategic decision from two like-minded companies. Together, Bird and Scoot will offer riders more vehicles featuring the latest technology advancements for the sharing market, and provide service in more communities, while helping cities meet their ambitious goals of reducing  both automobile traffic and climate-changing carbon emissions,” the companies said in a statement.

Prior to the acquisition, Scoot, which launched in 2011, was valued at around $70m with $47m in funding. Bird and Scoot did not disclose the terms of the deal, but the WSJ reports the deal was around $25m in a combination of cash and stock.

“We are thrilled to welcome Scoot to the Bird ecosystem and look forward to working with the Scoot team as we further scale our complementary missions – to replace car trips with micro-mobility options for all. Together we will make a bigger impact on our riders’ daily lives and the cities we serve.” – Bird’s founder and CEO Travis VanderZanden.

“Since we launched the first electric vehicle service you access with your smartphone, we have pursued our mission of Electric Vehicles for Everyone and showed cities that shared, electric mobility is a convenient, fun, and affordable way for citizens to get where they need to go. With Bird, our mission remains the same, but the scale at which we will pursue it, and the vehicles we will offer will be so much better for our riders and the cities we serve.” – Scoot’s founder and President Michael Keating.