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Bird Global Inc. (BRDS) is a defunct publicly-traded entity that filed for Chapter 11 bankruptcy in December 2023 and was liquidated in 2024. The company's assets were sold to Third Lane Mobility Inc. for $145 million in April 2024, while the original BRDS stock became worthless to shareholders. The stock now trades as BRDSQ on OTC Markets, representing the liquidated entity with no operational business.
Prior to bankruptcy, Bird Global operated as a pioneering micromobility company providing app-based electric scooter and bicycle rentals for short-distance urban travel. Founded in September 2017 by former Uber and Lyft executive Travis VanderZanden, Bird achieved unicorn status in just 10 months—faster than any startup in Silicon Valley history. The company raised over $1 billion in venture funding and reached a peak valuation of $2.5 billion before going public via SPAC in 2021.
Despite early success, Bird struggled with profitability, burning more than $650 million in cash from 2020 through 2022. The company faced regulatory challenges, accounting irregularities, and was delisted from the NYSE in September 2023. Bird filed for bankruptcy in December 2023 with $359 million in net losses for 2022 and cash reserves of just $6.8 million. While the Bird brand continues operating under Third Lane Mobility's private ownership, the original BRDS stock holds no value.
Investment Warning: BRDSQ represents a liquidated entity with no assets or recovery prospects. The stock trades on OTC Pink, the riskiest tier of securities, and is unsuitable for investment. Any investment carries a near-certain risk of total loss.
