Jun 12, 2018

Scooter startup Bird is seeking a $2 billion valuation

Dan Primack, author of Pro Rata

Illustration: Caresse Haaser / Axios

E-scooter company Bird is seeking to raise around $200 million in new funding at a $2 billion valuation, according to multiple sources.

Big picture: This would be just weeks after it raised $150 million at a $1 billion valuation, and only three months after raising at a $300 million valuation. Venture capitalists have never before participated in such a rapid and rocketing price spike.

  • Sequoia Capital led the $150 million infusion, but no word yet on if a lead is signed onto the new tranche.
  • The Financial Times puts the new round's likely valuation a bit lower, at $1.5 billion.

One possible investment thesis is that big ride-hail players like Didi, Lyft or Uber all want in on the micro-mobility space — e.g., the battle for bike-share company Motivate — and will soon pay up to acquire Bird.

Axios also has learned more about the make-up of a new $250 million funding round for Bird rival Lime, at a $750 million valuation:

  • Deal lead GV is committing around $50 million, as is new investor IVP and return backer Andreessen Horowitz.
  • GV parent company Alphabet also is committing around $50 million.
  • The remaining $50 million includes a $15 million commitment from existing shareholder Coatue Management.

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Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 5,923,432— Total deaths: 364,836 — Total recoveries — 2,493,434Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 1,745,930 — Total deaths: 102,808 — Total recoveries: 406,446 — Total tested: 16,099,515Map.
  3. Public health: Hydroxychloroquine prescription fills exploded in March —How the U.S. might distribute a vaccine.
  4. 2020: North Carolina asks RNC if convention will honor Trump's wish for no masks or social distancing.
  5. Business: Fed chair Powell says coronavirus is "great increaser" of income inequality.
  6. 1 sports thing: NCAA outlines plan to get athletes back to campus.