*By Jacqueline Corba* Venture Capital firm Greycroft is betting on Bird to win the scooter wars. "I think we've never seen something grow so quickly with such high engagement," Greycroft Founding Partner Dana Settle told Cheddar Friday. "We really believe this team has what it takes to become the global leader in this space." This week Bird raised $300 million in funding, putting its total financing at $418 million. Its valuation is rumored to now be at $2 Billion, making it the fastest start-up to become a unicorn, [according to Quartz.] (https://qz.com/1317292/electric-scooter-startup-bird-confirms-it-raised-300-million-the-fastest-company-to-become-a-unicorn/) Greycroft participated in Bird's Series C funding round. "With this funding, we can grow to meet this consumer demandーproviding an alternative to the short car rides that are clogging our city streets and communities," Bird Founder and CEO Travis VanderZanden said in a statement. But this rise to stardom has not been without bumps along the way. Earlier this month, [San Francisco pulled all the electric scooter start-up off its streets.] (https://cheddar.com/videos/inside-the-electric-scooter-craze) Bird as well as its competitors Lime and Spin were required to submit applications for permits in order to re-enter the market. The San Francisco Municipal Transportation Agency told Cheddar it is trying to finalize its review of the applications in the next few weeks. "They are figuring it out in the short term, and we respect that," said Greycroft Investor Teddy Citrin. "It's a completely new behavior." While Bird is leading the pack in funding, others are trying to catch up. Spin is raising a $125 million security token offering, [Axios reported Friday.] (https://www.axios.com/scooter-startup-spin-1530269856-4cc06fb9-f47f-451d-8675-cb5a4723d068.html?utm_source=twitter&utm_medium=social&utm_campaign=organic&utm_content=1100) This would provide a boost for the San Francisco based start-up which has only disclosed $8 million in funding. For full interview, [click here](https://cheddar.com/videos/why-greycroft-says-bird-will-win-the-scooter-wars)

Share:
More In Business
Starbucks’ Change Flushes Out a Debate Over Public Restroom Access
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
Trump Highlights Partnership Investing $500 Billion in AI
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Load More