Jan 27, 2020

Bird acquires European scooter startup Circ

Photo: Gerard Julien/AFP/Getty Images

Bird has acquired European scooter rental rival Circ, founded by Delivery Hero co-founder Lukasz Gadowski, and has raised an additional $75 million for its Series D round (for a total of $350 million). Bird's pre-money valuation remains $2.5 billion, per a source.

Why it matters: After a growth-at-all-costs first couple of years, scooter companies now have to build a sustainable business, continue to expand, and cut their losses if it's not working. And the deal could give Bird a leg up in winning over European regulators by partnering with a local company.

The Financial Times first reported the companies were in talks for a deal.

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The intensifying battle between cities and electric scooters

Photo: Robyn Beck/AFP/Getty Images

Cities are driving electric scooters out, either by explicitly ordering them off the streets or regulating them into extinction.

Why it matters: The rise of dockless electric bikes and scooters has brought on a slew of issues for cities, from crowded curbs to deadly accidents. But they offer a clean, convenient way to get around, and eliminating them entirely isn't the right solution, experts say.

Judge approves T-Mobile-Sprint merger

Illustration: Aïda Amer/Axios

A federal judge allowed the merger of T-Mobile and Sprint to move forward in a Tuesday decision, ruling against a coalition of state attorneys general who fought against the deal.

Why it matters: The deal, announced back in April 2018, reduces the number of national carriers from four to three, but creates a much larger rival to AT&T and Verizon, and was seen as vital for Sprint, which has continued to lose market share during the deal's long approval process.

Go deeperArrowUpdated Feb 11, 2020 - Economy & Business

Uber sells India food delivery business to rival Zomato

Photo: CHANDAN KHANNA/AFP via Getty Images

Uber has agreed to sell its food delivery business in India to rival Zomato in an all-stock deal that gives Uber a 9.99% stake in the combined business.

Why it matters: Uber is under growing pressure from investors to figure out a path to profitability and cut loose anything that won't help it reach that goal.

Go deeperArrowJan 21, 2020