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.