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What Does Bird’s Revenue Snafu Mean for the Future of Micromobility?
Maylin Tu
Maylin Tu is a freelance writer who lives in L.A. She writes about scooters, bikes and micro-mobility. Find her hovering by the cheese at your next local tech mixer.
In the beginning, there was Bird.
When Travis VanderZanden and company dropped the first Xiaomi scooters on the streets of Santa Monica, a micromobility revolution was born. But five years later, the shared micromobility startup’s future is in question.
Last month, Bird announced it overstated revenues for the last 2.5 years and may not have enough cash to survive, setting off waves of speculation about the viability of the industry. According to an SEC filing, the discrepancy was the result of counting rides taken by customers with an insufficient wallet balance as revenue.
This means that riders bilked the company out of millions of dollars. In an investor call, CFO Ben Lu said that Bird planned to revise numbers for the first two quarters of this year by $12.5 million for a total revision of $31.6 million from 2020 to 2022.
It was the latest in a spate of bad news for the company that went public via SPAC in 2021. In just the past year, Bird has also pulled out of multiple cities, changed CEOs and risked being delisted on the New York Stock Exchange. The revenue snafu seems to have further deflated optimism in the company, and the timing — as the economy reels from inflation and effects of the pandemic slowdown — couldn’t be worse.
“I was very surprised that it's $12.5 million. It's a large number,” said Prabin Joel Jones, ex-CTO of Bond Mobility and founder of Freshkart, a Belgium-based meal delivery startup. “But I'm also surprised that there's not a lot of people talking about it.”
How Did Bird Veer Off Course?
Critics, competitors and Bird itself have blamed multiple factors for the state of e-scooter startups, including a strategy of expansion at all costs, bloated general and administrative expenses and over- and under-regulation by cities.
“[Burning cash to expand] is okay at the beginning, but it cannot be the game for a really long time, when you absolutely have to find the right business model for you to be profitable,” said Jones.
Bird has made significant cuts in recent months, laying off 23% of its staff, halting product lines and slowing down the purchase of new scooters.
“Last quarter was, from a net-loss perspective, one of their best quarters. But it's too late. They should've done this a year ago,” Jones added.
Bird, Spin and others blame cities for over-regulating e-scooters, enforcing riding and parking restrictions — like speed limits, curfews and parking corrals — that disproportionately affect shared bikes and scooters. At the same time, they say municipalities have been too lax, allowing markets to be oversaturated by operators, making it impossible to achieve profitability. Emil Nnani, founder and CEO of Dallas-based micromobility startup Boaz Bikes, said that’s not a fair assessment.
“They're using the excuse of saying, ‘Hey, well, [there are] too many operators.’ But what that really says is… ‘Hey, we want to operate a horrible business, and we want to make money on it.’”
Nnani also pointed out that Bird is one of the last to adopt swappable batteries, which would allow it to cut down on operating costs; depleted scooters would no longer need to be transported to a home or warehouse for charging. Instead, batteries could simply be swapped in the field.
“They definitely have to raise a massive amount of funding in the next, say, three months. If they don't, it's going to be very difficult for them,” said Jones.
An Unlikely Scooter Suitor
As Bird rethinks its future, Helbiz CEO Salvatore Palella has been teasing a possible acquisition, one bird meme at a time.
\u201cI\u2019m starving\u201d— Salvatore Palella (@Salvatore Palella) 1670347315
The New York-based company is the only other e-scooter startup to go public. It recently acquired West Hollywood-based Wheels.
“Part of our short term and long term strategy is acquisitions within the micromobility space,” Amy Shat, chief people officer at Helbiz, told dot.LA. “Will we consider all opportunities we have to do that? Absolutely.”
Bird spokesperson Campbell Millum wouldn’t comment directly on the possibility of a sale. “We don't comment on rumors,” she wrote by email.
But Helbiz has its own problems. The company is currently trading at $0.16 and risks being delisted on Nasdaq.
Canary In the Coal Mine or Just Growing Pains?
Despite these setbacks, some industry insiders and companies say they are still bullish on shared micromobility.
For one, cities may be rethinking the nature of public-private partnerships in the sector — moving past the “battle royale” pilot stage where a large number of young companies fought for dominance on city streets and into something more sustainable, where cities pick the best companies and award them with more lucrative contracts.
For example, Santa Monica will be recruiting two operators for a three- to five- year term starting next year. Currently, Spin, Veo and Wheels are the only three operators in the city — Bird was unceremoniously booted last summer.
The future of shared micromobility might be partially subsidized, especially if cities want to make micromobility an integrated part of their transportation networks and an equitable option for all.
In cities like L.A., e-scooter companies are required to operate in low-income areas that are less lucrative for them. But in the future, cities might start subsidizing these rides.
“Nobody in the history of cities has figured out a way to really make money providing transportation as a public good,” said Colin Murphy, director of research and consulting at the Shared-Use Mobility Center, in an email.
Murphy argues the government routinely subsidizes the auto industry by building and repairing roads and setting aside public space for private vehicles.
“The same thing will have to happen with shared bikes and scooters if they're going to remain a real part of the transportation ecosystem,” he said.
That said, Boaz Bikes’ Nnani predicts that 2023 and 2024 will be “golden years” for shared micromobility. As bigger companies like Bird are forced to pull back, he said, smaller companies like his will have the space to grow.
“And sometime in 2025, I expect fresh money to start getting pumped into the industry, once they see that, ‘Hey, okay, everybody's figured out the unit economics’,” he said.
From Your Site Articles
- Wheels Pulls Out of Culver City and West Hollywood ›
- Bird Burns $43.7 million in Q2 as Revenue Rebounds 477% From Pandemic Plunge ›
- Bird Stock Tanks After Company Warns of Dwindling Cash Flow ›
- Why Cities Will Tailor Their Infrastructure To Micromobility - dot.LA ›
- E-Scooters Could Be The Future Of Micromobility In LA - dot.LA ›
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Maylin Tu
Maylin Tu is a freelance writer who lives in L.A. She writes about scooters, bikes and micro-mobility. Find her hovering by the cheese at your next local tech mixer.
Here's How To Get a Digital License Plate In California
03:49 PM | October 14, 2022
Photo by Clayton Cardinalli on Unsplash
Thanks to a new bill passed on October 5, California drivers now have the choice to chuck their traditional metal license plates and replace them with digital ones.
The plates are referred to as “Rplate” and were developed by Sacramento-based Reviver. A news release on Reviver’s website that accompanied the bill’s passage states that there are “two device options enabling vehicle owners to connect their vehicle with a suite of services including in-app registration renewal, visual personalization, vehicle location services and security features such as easily reporting a vehicle as stolen.”
Reviver Auto Current and Future CapabilitiesFrom Youtube
There are wired (connected to and powered by a vehicle’s electrical system) and battery-powered options, and drivers can choose to pay for their plates monthly or annually. Four-year agreements for battery-powered plates begin at $19.95 a month or $215.40 yearly. Commercial vehicles will pay $275.40 each year for wired plates. A two-year agreement for wired plates costs $24.95 per month. Drivers can choose to install their plates, but on its website, Reviver offers professional installation for $150.
A pilot digital plate program was launched in 2018, and according to the Los Angeles Times, there were 175,000 participants. The new bill ensures all 27 million California drivers can elect to get a digital plate of their own.
California is the third state after Arizona and Michigan to offer digital plates to all drivers, while Texas currently only provides the digital option for commercial vehicles. In July 2022, Deseret News reported that Colorado might also offer the option. They have several advantages over the classic metal plates as well—as the L.A. Times notes, digital plates will streamline registration renewals and reduce time spent at the DMV. They also have light and dark modes, according to Reviver’s website. Thanks to an accompanying app, they act as additional vehicle security, alerting drivers to unexpected vehicle movements and providing a method to report stolen vehicles.
As part of the new digital plate program, Reviver touts its products’ connectivity, stating that in addition to Bluetooth capabilities, digital plates have “national 5G network connectivity and stability.” But don’t worry—the same plates purportedly protect owner privacy with cloud support and encrypted software updates.
5 Reasons to avoid the digital license plate | Ride TechFrom Youtube
After the Rplate pilot program was announced four years ago, some raised questions about just how good an idea digital plates might be. Reviver and others who support switching to digital emphasize personalization, efficient DMV operations and connectivity. However, a 2018 post published by Sophos’s Naked Security blog pointed out that “the plates could be as susceptible to hacking as other wireless and IoT technologies,” noting that everyday “objects – things like kettles, TVs, and baby monitors – are getting connected to the internet with elementary security flaws still in place.”
To that end, a May 2018 syndicated New York Times news service article about digital plates quoted the Electronic Frontier Foundation (EFF), which warned that such a device could be a “‘honeypot of data,’ recording the drivers’ trips to the grocery store, or to a protest, or to an abortion clinic.”
For now, Rplates are another option in addition to old-fashioned metal, and many are likely to opt out due to cost alone. If you decide to go the digital route, however, it helps if you know what you could be getting yourself into.
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Steve Huff
Steve Huff is an Editor and Reporter at dot.LA. Steve was previously managing editor for The Metaverse Post and before that deputy digital editor for Maxim magazine. He has written for Inside Hook, Observer and New York Mag. Steve is the author of two official tie-ins books for AMC’s hit “Breaking Bad” prequel, “Better Call Saul.” He’s also a classically-trained tenor and has performed with opera companies and orchestras all over the Eastern U.S. He lives in the greater Boston metro area with his wife, educator Dr. Dana Huff.
steve@dot.la
This LA Startup Wants to Make It Rain and Just Raised $25M to Do It
09:38 AM | May 09, 2025
🔦 Spotlight
Hello LA!
While most tech headlines are busy chasing AI chatbots and flying taxis, one startup in El Segundo is aiming a little higher. Literally.
Rainmaker just secured $25 million in Series A funding to expand its cloud-seeding drone technology. The round was led by Lowercarbon Capital, with participation from Starship Ventures, 1517 Fund, Long Journey Ventures, Naval Ravikant, and others.
Their idea is simple but urgent. Instead of relying on old-school aircraft to spray rain-making particles across the sky, Rainmaker uses AI-powered drones that find and seed clouds with pinpoint accuracy. It is faster, more affordable, and could reshape how regions fight back against droughts.
California's ongoing water struggles have made it clear that simply "saving" water is not enough. Cities and entire economies need new tools to create it. Rainmaker plans to use the funding to grow its fleet, invest in atmospheric science, and expand commercial partnerships with utilities and governments searching for solutions.
Bigger picture, Rainmaker is part of a growing shift in LA's tech ecosystem. While software remains dominant, more investors and founders are quietly betting on "hard tech" that addresses real-world problems like water, energy, and infrastructure.
It is not just about apps anymore. It is about survival tech.
With the skies getting hotter and the reservoirs getting lower, the next great tech export out of LA might not be entertainment or social media. It could be rain.
Stay tuned…
🤝 Venture Deals
LA Companies
- SimpleClosure, a Santa Monica-based startup that automates the business shutdown process, has raised a $15M Series A funding round led by TTV Capital. The company, which launched publicly in late 2023, helps startups and businesses navigate legal, regulatory, and compliance hurdles when closing down, using AI to streamline paperwork and communications. The new funding will support SimpleClosure’s platform growth and product expansion, as rising economic pressures create heightened demand for efficient dissolution solutions. - learn more
LA Venture Funds
- Alexandria Venture Investments participated in Haya Therapeutics’ $65M Series A funding round. Haya Therapeutics, which is developing precision RNA-guided medicines for chronic and age-related diseases, will use the capital to advance its lead therapeutic programs targeting heart failure and fibrosis. The company plans to expand its pipeline, invest in its discovery platform, and grow its team to accelerate clinical development. - learn more
- Griffin Gaming Partners led a $7M funding round for Fuse Games, a gaming studio focused on developing new original IP. Fuse Games, founded by industry veterans with experience at major gaming companies, plans to use the funds to accelerate production of its first title and expand its team as it builds ambitious new gaming experiences. - learn more
- Shamrock Capital has made a strategic growth investment in Neocol, a leading consulting platform that specializes in sales and AI-driven software solutions for subscription businesses. Neocol, which helps companies optimize revenue operations and digital transformations, plans to use the investment to accelerate its growth, expand its services, and further strengthen its leadership position in the Salesforce ecosystem. - learn more
- Trust Fund participated in a $7.2M seed funding round for Agree.com, an all-in-one platform that combines e-signature and integrated payments, aiming to streamline and speed up service agreements. The company plans to use the new capital to grow its engineering team, expand integrations, and enhance payment capabilities to help service providers close deals faster. - learn more
- Hyperlink Ventures participated in Orca AI’s $72.5M funding round. Orca AI, headquartered in London, develops AI-based navigation and collision-avoidance solutions to improve safety and efficiency for commercial shipping fleets. The funding will help Orca AI scale its autonomous shipping technologies, expand its team, and support global growth efforts. - learn more
LA Exits
- StoryFire, a social storytelling and video platform with over 2.5M users, has been acquired by Flashy Finance to launch a new platform called Flashy Social. The move aims to merge content creation with blockchain-powered financial tools, allowing creators to monetize through token incentives, streaming features, and community engagement. This acquisition supports Flashy Finance’s broader vision of building a cultural, creator-led financial ecosystem. - learn more
- Jaanuu, Inc., a Los Angeles-based medical apparel brand known for its stylish and functional scrubs, has been acquired in an asset sale by VentureOn Management, LLC. The acquisition includes substantially all of Jaanuu's assets, encompassing its intellectual property, inventory, and customer relationships. VentureOn Management plans to continue Jaanuu's operations, focusing on delivering high-quality medical apparel to healthcare professionals. - learn more
- Skechers has agreed to be acquired by 3G Capital in a deal valued at approximately $9.4 billion. Shareholders will receive either $63 per share in cash or $57 plus an equity unit in a new private parent company. Following the acquisition, Skechers will become privately held, maintain its Manhattan Beach headquarters, and continue to be led by its current management team. - learn more
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