Oct 29, 2018

Two Latin American scooter startups merge

Illustration: Caresse Haaser/Axios

Two Latin American scooter rental startups, Grin in Mexico and Ride in Brazil, have merged and will operate under the Grin brand.

Why it matters: Just as happened in the ride-hailing industry, scooter (and bike) rental companies will likely consolidate as the global competition keeps intensifying.

  • This merger comes on the heels of Grin's closing $45 million in new funding, led by Delivery Hero founder Lukasz Gadowski, with Shasta Ventures, DCM Ventures and existing investors also participating.
  • Grin recently also inked a partnership with Rappi, a Latin American on-demand delivery service. Rappi users will be able to rent Grin scooters via the former's app.
  • Still, Grin will have to compete with other local rivals. Brazil's Yellow, for example, recently raised $63 million in new funding. American companies Lime and Bird also have ambitions in the region.

Flashback: The ride-hailing industry saw some consolidation in the form of global companies acquiring local players as a way to expand their presence in the region. In other cases, they sold their regional operations to the local top company.

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 5,462,447 — Total deaths: 346,293 — Total recoveries — 2,191,461 — Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 1,653,904 — Total deaths: 97,948 — Total recoveries: 366,736 — Total tested: 14,163,915 — Map.
  3. World: Italy reports lowest number of new cases since February — Ireland reports no new coronavirus deaths on Monday for the first time since March 21 — WHO suspends trial of hydroxychloroquine over safety concerns.
  4. 2020: Trump threatens to move Republican convention from North Carolina — Joe Biden makes first public appearance in two months.
  5. Public health: Officials are urging Americans to wear masks over Memorial Day.
  6. Economy: New York stock exchange to reopen its floor on Tuesday — White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election — Charities refocus their efforts to fill gaps left by government.
  7. What should I do? Hydroxychloroquine questions answered — Traveling, asthma, dishes, disinfectants and being contagious — Masks, lending books and self-isolating — Exercise, laundry, what counts as soap — Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — How to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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