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Scooter startup Bird is reportedly raising $300 million with assistance from Fidelity

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Bird, which is a scooter startup is reportedly raising about $300 million. This is an extension of the previous fundraising round by the company which was led by Fidelity, a financial giant.

Bird is a scooter share company, which operates in electric scooters and has its head quarters in Santa Monica of California.

The news was reported on Wednesday by Kia Kokalitcheva of Axios. From the previous round of funding, the company had raised $2 billion’s worth of valuation which it is likely that it will keep.

Fidelty, the financial giant might help in the next funding round

Source: Wsj

The history of the company

According to the website of the company, it is currently operating in more than 100 cities in the United States along with Europe which clearly states that the company has been expanding at breakneck speed in 2018.

However, at times the company has also shown little warnings like dumping its scooters on cities that were unaware which has caused headache to the officials that were local.

Bird had dumped vehicles in unawared cities

Source: Jpcust

Previous fundings of the company

According to CrunchBase, until now, the scooter startup, Bird has raise $415 million through four rounds of funding.

There were reports last year in 2018 that Uber was willing to acquire Bird or Lime. Lime is its closest competitor and was working on the bid. But if the report of Axios is true, then the deal of Uber apparently has not panned out.

Previously, Uber had made an investment in Lime.

According to the Business Insider, a spokesperson of Bird had declined its request to comment on the matter. The person had stated that the company does not comment on matters that are nothing but rumors or mere speculations.

Business Insider also reported that the spokesperson of Fidelity did not respond immediately to its request of commenting.

If there are buyout proposals and the reports are true, then it could be complicated by the latest fundraising by the scooter startup, Bird.

Source: Business Insider, Reuters

Ketakee Srivastava
I am an amateur content writer, who is currently pursuing a Masters in Finance from ICFAI Business School. In this highly volatile Business Market, I find no better way to keep myself updated than to write about it and reflect my own thoughts as words.

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