VC Firm Greycroft Bets on Bird to Win the Scooter Wars
*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)
With an increasing demand for mental health services, one person wanted to change the therapy game. In 2017, CEO Alex Katz founded Two Chairs, a company that uses technology to match patients with the right therapist.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.
You may have noticed fewer new venture capital-backed startups (like Airbnb or Uber) lately. The market slowed to a crawl after 2021, but things are expected to take off again in 2025.
Corporate earnings season is underway, that time when companies share their billions in sales or double-digit profits. But the data shows even companies are struggling with high inflation and interest rates.
Boeing continues their terrifying trend of having their planes fall apart mid-flight, inflation — checks notes — is still up and the future of AI looks terrifying. Cheery!
