Jun 12, 2018 - Energy & Environment
Scooter startup Bird is seeking a $2 billion valuation
E-scooter company Bird is seeking to raise around $200 million in new funding at a $2 billion valuation, according to multiple sources.
Big picture: This would be just weeks after it raised $150 million at a $1 billion valuation, and only three months after raising at a $300 million valuation. Venture capitalists have never before participated in such a rapid and rocketing price spike.
- Sequoia Capital led the $150 million infusion, but no word yet on if a lead is signed onto the new tranche.
- The Financial Times puts the new round's likely valuation a bit lower, at $1.5 billion.
One possible investment thesis is that big ride-hail players like Didi, Lyft or Uber all want in on the micro-mobility space — e.g., the battle for bike-share company Motivate — and will soon pay up to acquire Bird.
Axios also has learned more about the make-up of a new $250 million funding round for Bird rival Lime, at a $750 million valuation:
- Deal lead GV is committing around $50 million, as is new investor IVP and return backer Andreessen Horowitz.
- GV parent company Alphabet also is committing around $50 million.
- The remaining $50 million includes a $15 million commitment from existing shareholder Coatue Management.