Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Scoot scooters in San Francisco. Photo: Robert Alexander/Getty Images
Bird on Wednesday said that it has acquired Scoot, which provides on-demand rentals of mopeds, scooters and bikes. Terms weren't disclosed.
Why it matters: This may get Bird access to the San Francisco market, where Scoot has an operating permit but Bird doesn't.
- Scoot will able to continue operating in San Francisco post-acquisition. "We approved the continued use of the permit based on a review of the request and on their assurances to meet the goals of Scooter Share Pilot," an SFMTA spokesman said in a statement to Axios. "These efforts include the promotion of safety as a top priority and improving equity to ensure underrepresented communities can actively participate in the program."
More about Scoot: The company was founded in 2011 and spent its first several years focused on moped rentals in San Francisco. Last year, it expanded to Barcelona, and added bicycles before getting into the small motorized scooters. To date, it has raised about $47 million in venture capital and was last valued at $71.5 million, according to PitchBook.
The bottom line: It was only a matter of time before the scooter rental market began to consolidate.
Editor's note: The story has been updated with comment from the San Francisco transportation agency regarding Scoot's scooter permit.