Bird is acquiring electric scooter and moped startup Scoot, confirming TechCrunch’s previous report that the two companies were in acquisition talks.
“We are thrilled to welcome Scoot to the Bird ecosystem and look forward to working with the Scoot team as we further scale our complementary missions – to replace car trips with micro-mobility options for all,” Bird founder and CEO Travis VanderZanden said in a statement. “Together we will make a bigger impact on our riders’ daily lives and the cities we serve.”
Prior to the acquisition, Scoot was valued at around $71 million with $47 million in funding. Scoot first launched way back in 2011 with its fleet of electric mopeds. Scoot has since deployed electric bikes and scooters.
Bird and Scoot did not disclose the terms of the deal, but the WSJ reports the deal was around $25 million in a combination of cash and stock. TechCrunch’s Kate Clark has since confirmed the deal was worth less than $25 million.
“Since we launched the first electric vehicle service you access with your smartphone, we have pursued our mission of Electric Vehicles for Everyone and showed cities that shared, electric mobility is a convenient, fun, and affordable way for citizens to get where they need to go,” Scoot founder and president Michael Keating said in a statement. “With Bird, our mission remains the same, but the scale at which we will pursue it, and the vehicles we will offer will be so much better for our riders and the cities we serve.”
This acquisition means Bird may finally get to operate shared electric scooters in San Francisco. This would be in addition to its monthly rental service in the city, though, The Information reports Scoot will need a separate approval to continue operating under a new owner.
I’ll update this story once I hear back from the San Francisco Municipal Transportation Agency.