Jun 12, 2018

Scooter startup Bird is seeking a $2 billion valuation

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

Harvey Weinstein convicted in rape trial

Harvey Weinstein leaves New York City Criminal Court. Photo: Scott Heins/Getty Images

A jury in Manhattan found film producer Harvey Weinstein guilty on two of five counts in his rape trial on Monday, including criminal sexual act in the first degree and rape in the third degree.

Why it matters: Allegations of sexual assault and harassment from women in Hollywood against Weinstein nearly three years ago helped spark the global #MeToo movement.

Supreme Court to hear Philadelphia case over same-sex foster parents

Photo: Daniel Slim/AFP via Getty Images

The Supreme Court agreed Monday to hear a high-profile case that could reshape the bounds of First Amendment protections for religion.

Why it matters: The direct question in this case is whether Philadelphia had the right to cancel a contract with an adoption agency that refused to place foster children with same-sex couples. It also poses bigger questions that could lead the court to overturn a key precedent and carve out new protections for religious organizations.