Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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.

Go deeper

Biden signs order overturning Trump's transgender military ban

Photo: Tom Brenner/Getty Images

President Biden signed an executive order on Monday overturning the Trump administration's ban on transgender Americans serving in the military.

Why it matters: The ban, which allowed the military to bar openly transgender recruits and discharge people for not living as their sex assigned at birth, affected up to 15,000 service members, according to tallies from the National Center for Transgender Equality and Transgender American Veterans Association.

GOP Sen. Rob Portman will not run for re-election, citing "partisan gridlock"

Photo: Drew Angerer/Getty Images

Sen. Rob Portman (R-Ohio) announced Monday he will not run for a third term in the U.S. Senate in 2022, citing "partisan gridlock."

Why it matters: It's a surprise retirement from a prominent Senate Republican who easily won re-election in 2016 and was expected to do so again in 2022, creating an open Senate seat in a red-leaning swing state.

Dan Primack, author of Pro Rata
49 mins ago - Economy & Business

Merger Monday has been overrun by SPACs

Illustration: Aïda Amer/Axios

Five companies this morning announced plans to go public via reverse mergers with SPACs, at an aggregate market value of more than $15 billion. And there might be even more by the time you read this.

The bottom line: SPAC merger activity hasn't peaked. If anything, it's just getting started.