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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.
Bird Global, Inc. (NYSE:BRDS) has announced the release of its financial results for the first quarter of 2023, scheduled for after market close on May 10, 2023. Following this, a webcast and conference call will be held on May 11, 2023, at 8:00 a.m. Eastern Time to discuss these results and provide business updates. Investors can participate by dialing 1-877-407-0792 or via a live audio webcast at ir.bird.co. A recorded replay will be available shortly after the event. Bird is committed to providing affordable and environmentally friendly transportation solutions like e-scooters and e-bikes in over 350 cities globally, maintaining a collaborative approach with local communities.
Bird Global, Inc. (NYSE:BRDS) has reported significant momentum in global markets, especially in
Bird Global (NYSE:BRDS) announced new technology solutions aimed at enhancing rider safety and compliance. Key updates include integration with Google Maps for scooter availability, an improved Visual Parking System utilizing AR, and a new Rider Age Verification tool using AWS Rekognition. Bird is also developing features like Double Riding Detection and Camera-Equipped Vehicles to enhance safety. CEO Shane Torchiana emphasized the importance of these innovations for city partnerships and eco-friendly transportation access. These initiatives mark a significant investment in technology to improve the rider experience.
Bird Global, Inc. (NYSE:BRDS) announced the addition of Philip Ryan and Philip Evershed to its Board of Directors. Ryan, Chairman of Swiss Re America, and Evershed, Managing Partner at PointNorth Capital, bring extensive experience in finance and business, reinforcing Bird's leadership. CEO Shane Torchiana highlighted their roles in achieving positive free cash flow and adjusted EBITDA this year. Both directors plan to acquire over 500,000 shares of Bird stock. Ryan will join the Audit Committee, while Evershed will serve on the Compensation Committee, positioning Bird for future growth in the e-scooter market.
Bird Global, Inc. (NYSE:BRDS) announced the expansion of its e-scooter and e-bike services in response to warmer weather, launching in cities across North America and Europe. New North American locations include Dallas, Lincoln, Logan, Montgomery, and Pocatello, alongside expansions in Italy and Israel. The company aims for tens of millions of rides this summer, bolstering its commitment to sustainable transportation. Bird has also secured permit renewals, indicating strong demand and city satisfaction. CEO Shane Torchiana emphasized the goal of achieving positive free cash flow in 2023, underlining Bird's focus on growth and community partnerships.
Bird Global, Inc. (NYSE: BRDS) announced that its executives, including CEO Shane Torchiana, CFO Michael Washinushi, and Chairman Travis VanderZanden, purchased over 1.5 million shares of BRDS Class A common stock. These purchases reflect confidence in the company's future and aim to enhance long-term shareholder value. Bird expects to generate $5 to $10 million in free cash flow and achieve $15 to $20 million in positive adjusted EBITDA. The company emphasizes its commitment to providing equitable, environmentally friendly transportation solutions, operating in over 350 cities worldwide.
Bird Global, operating under NYSE:BRDS, is expanding its e-scooter services in Canada, specifically in the Greater Toronto Area. Starting April 3, 2023, Bird will be the exclusive operator in Hamilton and will soon launch in Brampton and Oshawa. This expansion solidifies Bird's position as the largest shared micromobility operator in Canada, now serving five Ontario cities. Bird's operations have been EBITDA positive in the region, with riders taking over three million trips and saving over 316,000 litres of gasoline since 2019. The launch event on April 3rd will include giveaways and community engagement.
Bird Global, Inc. (NYSE:BRDS) has secured nearly
Bird Global, Inc. (NYSE: BRDS) reported a full year 2022 revenue of $245 million, marking a 28% increase from 2021. In Q4, revenue reached $69.7 million, up from $49.5 million in the prior year, driven by an improved gross margin of 42% and a narrowed free cash flow loss of $14.6 million. The acquisition of Bird Canada's operations contributed over $30 million in capital and positive cash flow. For 2023, guidance indicates adjusted EBITDA between $15 to $20 million and positive cash flow of $5 to $10 million. Despite a net loss of $358.7 million for the year, management emphasized enhancements in operational efficiency and a focus on profitability.
Bird Global, Inc. (NYSE:BRDS) will release its financial results for Q4 and full year fiscal 2022 before markets open on March 10, 2023. The company will host a webcast at 8:00 a.m. ET to discuss these results and provide business updates. Interested participants can join the call by dialing 1-877-407-0792 or accessing the live audio webcast at ir.bird.co. A recorded replay will be available shortly after the event. Bird focuses on providing affordable, eco-friendly transportation solutions like e-scooters and e-bikes, operating in over 350 cities worldwide.
