Thursday, June 6, 2019

Report: Bird Negotiating To Buy Scoot

According to an unconfirmed report on Wednesday, Santa Monica-based on-demand scooter rental startup Bird is in the midst of talks to acquire another, on-demand scooter company, Scoot. The deal has not yet closed, and financial details of the potential effort were unclear. According to the report, Scoot was last valued at around $71M, and had raised $47M in total funding. It's unclear if Bird approached Scoot on the deal, or perhaps if the story might have been leaked by someone near to Scoot; it's not uncommon for investment bankers and other advisors to leak rumors of acquisition deals to spur more interest and competitive bids on companies.

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