Bird CEO counters report of $100 million Q1 loss

Dion Rabouin, author of Markets

Bird scooters. Photo: Mark Ralston/AFP/Getty Images

In an effort to counter a report from The Information that his scooter company posted a $100 million loss in Q1, Bird CEO Travis VanderZanden released a comparison spreadsheet on Twitter.

What it means: While the comparisons are incomplete and most certainly not apples to apples, Bird's revenues and margins are impressive, even given the truncated timeframe, analysts told Axios.

  • VanderZanden added that the $100 million loss was a one-time "accounting write off" from depreciated vehicles purchased in 2018 and not a net loss.
  • Bird chief product officer Ryan Fujiu, who previously worked for Uber and Lyft, also posted the comparison on social media.

What he's not saying: Neither Fujiu nor VanderZanden denied The Information's claim that Bird is down to $100 million in cash, after raising $700 million, and is seeking $300 million in new funding.

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Axios
Updated 42 mins ago - Politics & Policy

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