Bird Acquires Spin, Now North America’s Largest Micromobility Operator By Market Share
Synergies upwards of
Combined, Bird will serve approximately 350 markets globally with over 200,000 vehicles
For the 12 months ended June 30, 2023, Spin delivered approximately
Spin, which is headquartered in
The company plans to leverage this leadership position to further expand its operations in multiple profitable key cities such as
"Spin is a great financial and strategic acquisition for Bird and we expect this acquisition will enable us to achieve long term sustainable profitability. In addition to our overall market leadership in
Spin brings Bird a fleet of over 60,000 vehicles, a significant portion of which are new, state-of-the-art vehicles. Along with Bird, Spin has been an industry pioneer at deploying sidewalk detection technology at scale, and Spin’s fleet of swappable-battery vehicles are complementary to Bird’s. Spin has earned its position as a trusted resource for riders and cities alike and will continue to operate the brand independently in many cities.
“We are excited to join forces with Bird, an innovative brand and a pioneer in micromobility. Together Bird and Spin create a powerful player in the
Bird is an electric vehicle company dedicated to bringing affordable, environmentally friendly transportation solutions such as e-scooters and e-bikes to communities across the world. Bird’s cleaner, affordable, and on-demand mobility solutions are available in 350 cities, primarily across
1 Based on data compiled by Earnest Analytics as of June 30, 2023.
2 Based in
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Bird’s future financial or operating performance. For example, projections of future revenue, and other metrics, business strategy and plans, and anticipated impacts from the acquisition of Skinny Labs, Inc. (d/b/a Spin) (the “Spin Acquisition”), are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Bird and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to the expansion plans and opportunities relating to the Spin Acquisition and the costs related to the Spin Acquisition. Other factors may also cause Bird’s actual results to differ materially from those expressed or implied in the forward-looking statements and such factors are discussed in Bird’s filings with the
Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements included in this press release are made as of the date hereof. Bird is not under any obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate, whether as a result of new information, future events or otherwise, except as otherwise may be required by the federal securities laws.
Source: Bird Global, Inc.
Source: Bird Global, Inc.