Scooter Startup Bird Seeks Funding at $2 Billion Valuation

(Bloomberg) -- Scooter-rental startup Bird Rides Inc., which is raising money at an unprecedented pace, is seeking another $150 million, according to a securities filing. A deal would up the company’s valuation to $2 billion.

If it completes the new fundraising effort, it would double the amount Bird raised at half the valuation just weeks ago, people familiar with the matter said. Sequoia Capital led that round with participation from Accel and other investors, said the people, who asked not to be named because the details are private.

Lagniappe Labs LLC, a market research firm, provided the securities document. A spokeswoman for Bird declined to comment.

Bird, a year-old company founded by a former Uber Technologies Inc. executive in Santa Monica, California, has achieved soaring valuations at an astounding pace. Investors hope to recreate the phenomenon of Uber with another high-flying transportation startup. Bird lets people in U.S. cities rent electric scooters found on sidewalks for short rides using an app.

--With assistance from Ellen Huet.

To contact the reporter on this story: Eric Newcomer in San Francisco at enewcomer@bloomberg.net

To contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, Robin Ajello

©2018 Bloomberg L.P.