Thursday, August 19, 2021

Bird Sees Record Results, Adds New E-Bike

Los Angeles-based micromobility provider Bird said this morning that it has seen record second quarter and first half fiscal 2021 financial results, with $60.0M in revenues in Q2, which was 36 percent above its expectations. The company said the results are a 477 percent increase from the same period in 2020, when it only had revenues of $10.4M. Bird appears to be benefiting from the surge in the economy as pandemic restrictions have loosened, especially compared to Q2 of 2020, when most of the world was locking down due to the spreading COVID-19 pandemic. Bird said the Q2 results are a 43 percent increase versus the same period in 2019. The startup--led by founder and CEO Traven VanderZanden--is now reporting its results as a result of recently hitting the public markets, via a SPAC (special purpose acquisition company) transaction. In addition to the results, Bird also said it has launched new e-bike aimed at the consumer products market, the Bird Bike.

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