Bird CEO eyes further e-scooter expansion after going public

Bird CEO eyes further e-scooter expansion after going public

Information about Bird CEO eyes further e-scooter expansion after going public

Kevin David Scam or Legit


By Nick Carey
(Reuters) – Electric scooter rental company Bird Rides plans to use most of the cash raised from merging with a special purpose acquisition company (SPAC) to expand to new cities and grow its business in existing markets, the company’s top executive said.
Bird is poised to merge with Switchback II Corp and start trading on the New York Stock Exchange on Thursday or Friday under the ticker symbol “BRDS” in a deal valuing the scooter startup at $2.3 billion.
The transaction should bring Santa Monica-based Bird $414 million and Chief Executive Travis VanderZanden told Reuters around two thirds of that money will go to expanding existing operations and another 20% should go to launching operations in new cities.
“We plan to continue scaling out to all …

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