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.
Crude oil prices fell to their lowest levels in over three months Monday as traders weigh how much the spread of the coronavirus will eat into demand because travel and economic activity is curtailed.
Why it matters: The sharp drop, which follows declines last week, shows how the spreading virus is rippling through global markets.
The economics, politics and science of climate change are converging and catapulting this problem from a joke among critics to a prominent concern.
Driving the news: Shifts across Washington, D.C., among corporate leaders and within financial institutions are creating a foundation that could produce big movement on this problem for the first time since, well, forever.
