Sources: Bird is in talks to acquire scooter startup Scoot
Curated by: Startups
If you are among those who thought that the scooter market sounded a little overhyped and overcrowded, we’ve gotten wind of a deal that could point to some impending consolidation. The on-demand scooter business Bird has agreed to acquire Scoot, a smaller two-wheeled mobility startup, sources tell TechCrunch.
The stage of the negotiations is not clear although from what our sources tell us, it sounds like the deal is not closed. Contacted for a response, both Scoot and Bird said they declined to comment on speculation.
If accurate, it would be far from a merger of equals. Scoot was last valued at around $71 million, having raised about $47 million in equity funding to date from Scout Ventures, Vision Ridge Partners, angel investor Joanne Wilson and more.
Bird is significantly larger. Led by chief executive officer Travis VanderZanden, earlier this year the company was working on a round of financing reportedly worth $300 million at a $2.3 billion valuation. We’ve been able to confirm that this round has now closed, although we don’t yet know the final amount or who the investors are. (Backers of Bird include Sequoia, Index, Charles River Ventures, Tusk Ventures, Upfront Ventures and dozens