Bird is acquiring electric scooter and moped startup Scoot, confirming TechCrunch’s previous report that the two companies were in acquisition talks.
“We are thrilled to welcome Scoot to the Bird ecosystem and look forward to working with the Scoot team as we further scale our complementary missions – to replace car trips with micro-mobility options for all,” Bird founder and CEO Travis VanderZanden said in a statement. “Together we will make a bigger impact on our riders’ daily lives and the cities we serve.”
Prior to the acquisition, Scoot was valued at around $71 million with $47 million in funding. Scoot first launched way back in 2011 with its fleet of electric mopeds. Scoot has since deployed electric bikes and scooters.
Bird and Scoot did not disclose the terms of the deal, but the WSJ reports the deal was around $25 million in a combination of cash and stock. TechCrunch’s Kate Clark has since confirmed the deal was worth less than $25 million.