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Bird Global, Inc. (OTCQX: BRDS) is a leading company in the field of environmentally friendly electric transportation. Known for its reliable last-mile transportation solutions, Bird offers e-scooters and e-bikes to communities worldwide, promoting a greener and more efficient way to travel. The company's mission is to make cities more livable by reducing car usage, traffic, and carbon emissions.
As part of its ongoing commitment to sustainability, Bird has facilitated over 300 million miles of travel, offsetting an estimated 90 million pounds of carbon emissions globally. The company operates in 350 cities across Canada, the United States, Europe, the Middle East, and Australia, making it the largest micromobility operator in North America.
Recently, Bird announced a financial restructuring process to strengthen its balance sheet and better position the company for long-term growth. Despite the restructuring, Bird continues to maintain its service standards for riders and uphold commitments to partner cities, fleet managers, and employees. The company aims to right-size its capital structure, supported by new and existing lenders, including MidCap Financial and Apollo Global Management.
Bird's leadership team, led by Interim CEO Michael Washinushi, is focused on achieving profitability and enhancing operational efficiency. The restructuring process includes a voluntary Chapter 11 bankruptcy proceeding, aimed at facilitating the sale of the company's assets to maximize value for all stakeholders. The court-supervised process is expected to be completed in the next 90-120 days, with minimal impact on operations in Bird Canada and Bird Europe.
Bird has filed a series of motions to ensure a smooth transition into bankruptcy, including provisions for employee wages and benefits. Legal counsel is provided by Berger Singerman LLP, with financial and restructuring advice from Teneo Capital LLC. Additional details about the proceedings are available on the company's claims agent's website.
Bird's innovative and community-first approach to micromobility has earned it a pivotal role in the sustainability goals of numerous cities. By providing affordable and convenient transportation options, Bird continues to make a significant impact in reducing urban congestion and promoting environmental stewardship.
Bird Global, Inc. (NYSE: BRDS) announced its e-Mobility Suite will be featured at CES® 2022 in Las Vegas from January 5-8, 2022. The suite includes innovative electric vehicles like the Bird e-Bike, Bird Flex e-scooter, and the Birdie Glow children's scooter. The 3,500 square foot booth will showcase how these vehicles contribute to reducing carbon emissions in over 350 cities globally. Senior VP Brian Buccella highlighted the importance of eco-friendly transit to combat climate change.
Bird Global, Inc. (NYSE:BRDS) reports significant environmental and economic impacts from its micromobility services in 2021. Riders contributed an estimated $100 million in spending at local businesses and saved approximately 1.1 million gallons of gasoline. The environmental benefits equate to CO2 absorption by nearly 460,000 mature trees. The company saw a rise in usage, with riders averaging 58% longer trips compared to 2019. Bird operates in over 350 cities globally, promoting eco-friendly transportation solutions.
Bird Global, a leader in electric transportation, has secured a conditional exclusive three-year contract to operate e-scooters in Reno, following a unanimous vote by the Reno City Council. This initiative aims to provide up to 1,000 micro-EVs to Reno’s 250,000 residents, promoting greater transportation access and addressing transit deserts. Community outreach will continue before the launch to ensure engagement and support for the program. Bird has a significant global presence, operating in over 350 cities.
Bird Global, Inc. (NYSE:BRDS) announced participation in Micromobility World, a global summit on
Bird Global, Inc. (NYSE:BRDS) has launched its new e-scooter, Bird Flex, and children's scooter, Birdie Glow, just in time for the holiday season. Available for direct purchase from Bird's website and Target, these products cater to increasing demand for personal electric vehicles. The Bird Flex features a compact design and enhanced safety, while the Birdie Glow is designed for kids ages 3 and up. Bird aims to expand its eco-friendly transportation offerings, meeting the needs of riders of all ages.
Bird Global (NYSE:BRDS) has partnered with Scootaround to launch an accessible mobility program in San Diego, California. This initiative aims to provide eco-friendly, on-demand transportation solutions for individuals with disabilities. Accessible vehicles, including the WHILL Model Ci2, will be available at discounted rates through the Bird app. This program follows successful pilots in the Bronx and San Francisco, expanding Bird's commitment to sustainable mobility access. Bird also offers a dedicated support line and personalized tutorials for users.
Bird Global, Inc. (NYSE:BRDS) announced the extension of its shared micromobility program in Washington, D.C. until June 30, 2022, allowing continued access to its fleet of micro electric vehicles. This initiative aims to reduce reliance on gas-powered vehicles and supports the city's climate action goals. Bird promotes community connectivity and has launched various safety innovations and partnerships, enhancing accessibility and environmentally friendly transportation.
Bird Global, Inc. (NYSE:BRDS), a leader in environmentally friendly transportation, will participate in the Credit Suisse 25th Annual Technology Conference. CEO Travis VanderZanden is scheduled to present on Wednesday, December 1, 2021, at 9:20 a.m. MT (11:20 a.m. ET). The presentation will be streamed live, with an archive available for 30 days afterward. Founded in 2017, Bird provides shared electric scooters and bikes in over 350 cities globally, focusing on affordable transportation solutions.
Bird Global, Inc. (NYSE:BRDS) reported a robust third quarter, with revenue rising 63% year-over-year to $65.4 million. Gross Transaction Value also surged 60% to $79.5 million. Despite a net loss of $(36.9) million, an improvement from $(43.8) million last year, the adjusted EBITDA loss decreased to $(5.3) million from $(28.0) million. Year-to-date revenue reached $151.1 million, a 114% increase, prompting the company to raise its full year revenue outlook to between $195 million and $205 million, alongside a revised adjusted EBITDA expectation of $(85) million to $(75) million.
Bird Rides, Inc. has completed its business combination with Switchback II Corporation, resulting in the formation of Bird Global, Inc. (NYSE: BRDS). The merger was approved on November 2, 2021, and the combined company received approximately $414 million in liquidity through various financial sources. Bird aims to expand its environmentally friendly transportation services, having already established operations in over 350 cities globally. The leadership team celebrated the listing on the NYSE by ringing the Opening Bell on November 5, 2021.
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