No, Bird scooters are not currently publicly traded. Bird is a private company that operates shared electric scooters in various cities around the world. They have not yet had an initial public offering (IPO) to become a publicly traded company.
About Bird Scooters
Bird is an electric scooter sharing company founded in 2017 by Travis VanderZanden. The company is based in Santa Monica, California and operates in over 100 cities globally. Bird allows users to rent electric scooters for short trips around cities and charges by the minute. The scooters are dockless, meaning they can be picked up and dropped off anywhere.
Some key facts about Bird scooters:
- Founded in 2017 in Santa Monica, CA
- Founder is Travis VanderZanden, former executive at Uber and Lyft
- Has raised over $400 million in funding from investors
- Operates in over 100 cities globally, mainly in the US and Europe
- Has fleet of tens of thousands of scooters
- Charges riders a per minute fee plus a base unlock fee to use scooters
Bird has quickly grown to become a major player in the electric scooter sharing industry along with companies like Lime and Spin. However, it remains a private company for now.
Bird’s Funding and Valuation
As a startup, Bird has raised extensive venture capital funding to finance its growth and operations:
- 2017 – Raised $15 million in Series A funding
- 2018 – Raised $100 million in Series B funding, reaching unicorn status with $1 billion valuation
- 2018 – Raised additional $300 million in Series C funding
- 2019 – Raised around $275 million in Series D funding
- 2020 – Raised $75 million in Series D-1 funding
In total, Bird has raised over $700 million in funding and was last valued at around $2.5 billion in its Series D round. Some of Bird’s notable investors include Sequoia Capital, Craft Ventures, Goldcrest Capital, and Citi Bike.
Plans for a Bird IPO?
Bird has not yet disclosed any specific plans for an initial public offering (IPO) or going public. However, many investors and industry observers expect Bird will eventually have an IPO.
As a high-growth startup operating in a hot industry, an IPO would allow Bird to raise additional capital for expansion and allow early investors to cash out. Bird’s CEO Travis VanderZanden has hinted at an eventual IPO. But the company will likely wait until it has achieved greater scale and profitability before going public.
Some analysts predict Bird could aim to IPO within the next 2-3 years. However, the timing will depend on market conditions and the company’s financials. Major competitors like Uber and Lyft went public in 2019. So there is precedent for mobility startups to have successful IPOs.
Potential Timeline for a Bird IPO
- Late 2020s: Earliest potential timeline but less likely as Bird continues to lack profitability and scale.
- 2022-2023: More realistic timeline as business matures over next 2 years.
- 2024-2025: Allows more time to reach profitability and establish dominant market position.
However, this is just speculative. Bird has yet to officially announce any IPO plans or timeline. The company will likely seek an IPO once growth slows and reaching sustainable profitability in core markets.
Financial Performance and Metrics
As a private company, Bird does not share detailed financial results publicly. However, we can look at reported metrics to gauge Bird’s financial performance:
Metric | Reported Stats |
Revenue (2020) | $95 million |
Gross Margin (2020) | 19% |
EBITDA Margin (2020) | -64% (negative) |
Rides per Scooter per Day | 0.93 (2019), 2.5 (2021) |
Cities Operated In | Over 100 globally |
Key takeaways from Bird’s financial situation:
- Revenues have continued growing each year as business expands but still modest at around $100 million.
- Operates at high losses with negative EBITDA margin of -64% as of 2020.
- Gross margins have improved to 19% in 2020 as business matures.
- Increasing rides per scooter per day shows path to profitability.
While currently unprofitable, Bird’s financials have been trending in a positive direction. If it continues increasing scale and efficiency, it could reach profitability before an IPO.
Risks and Challenges for Bird
Some key risks Bird will need to address:
- Achieving and maintaining consistent profitability given relatively low margins.
- High costs and vandalism associated with shared scooter model.
- Regulatory challenges as many cities restrict scooter businesses.
- Safety issues and lawsuits stemming from accidents.
- Intense competition from Uber, Lyft, Lime and others.
Bird will have to demonstrate a viable path to sustainable profits over time. Its business model remains somewhat unproven long-term. Becoming a Public company will expose Bird to much more scrutiny of its financial performance.
Conclusion
In summary, Bird scooters remains a private company as of October 2022. It has raised substantial VC funding at a valuation up to $2.5 billion. However, Bird has yet to officially announce any plans or timeline for an IPO. Most experts expect Bird will aim for an IPO within the next 2-4 years. But the company first needs to reach greater scale, prove its business model, and achieve consistent profitability before going public. Given the company is unprofitable and still fairly young, there are risks around its outlook. But as a leading electric scooter operator, Bird has strong growth potential and will be an interesting public company to watch whenever its eventual IPO happens.