Technology
This is the official technology community of Lemmy.ml for all news related to creation and use of technology, and to facilitate civil, meaningful discussion around it.
Ask in DM before posting product reviews or ads. All such posts otherwise are subject to removal.
Rules:
1: All Lemmy rules apply
2: Do not post low effort posts
3: NEVER post naziped*gore stuff
4: Always post article URLs or their archived version URLs as sources, NOT screenshots. Help the blind users.
5: personal rants of Big Tech CEOs like Elon Musk are unwelcome (does not include posts about their companies affecting wide range of people)
6: no advertisement posts unless verified as legitimate and non-exploitative/non-consumerist
7: crypto related posts, unless essential, are disallowed
view the rest of the comments
This is the best summary I could come up with:
In a press release today, Bird confirmed that it had entered into a “financial restructuring process aimed at strengthening its balance sheet,” with the company continuing to operate as normal in pursuit of “long-term, sustainable growth.”
Founded in 2017 by former Lyft and Uber executive Travis VanderZanden, Bird is one of numerous startups to introduce dockless micromobility platforms around the world, allowing city-dwellers to pay for short-term access to electric scooters or bikes.
Things didn’t improve, and with its share price continuing to plummet, CEO VanderZanden departed in June with the company eventually delisted from the NYSE in September.
“This announcement represents a significant milestone in Bird’s transformation, which began with the appointment of new leadership early this year,” Washinushi said.
We remain focused on our mission to make cities more liveable by using micromobility to reduce car usage, traffic, and carbon emissions.”
This latest news comes just a day after competitor Micromobility.com was delisted from the Nasdaq over its failing stock price, three years after it too went public via a SPAC merger.
The original article contains 459 words, the summary contains 174 words. Saved 62%. I'm a bot and I'm open source!