Recent news on the micro-mobility industry: Uber sells bike & scooter business to Lime; Lime lays off most Canadian employees; Gotcha experiences increase in demand and launches Gotcha TO GO service, an alternative in food delivery. [more]
Uber’s stock price increased after reporting a $2.9B loss and withdrawing guidance. Lyft’s stock price was also higher after reporting a $398M loss but more rides. However, California’s attorney general sued both for violating the recently passed state law regarding gig economy workers. [more]
Last week, Last Mile Holdings, previously known as OjO Electric Corp, announced the completed acquisition of Gotcha Mobility, a company with over 20,000 e-bikes and e-scooters permits across 80 locations. [more]
Uber and Lyft, the two largest ride-sharing companies competing to be the leader in the global markets, just released their Q4/2019 earnings and guidance for 2020. In 2019, Uber had quarterly net loss of US$1.1B and annual loss of US$8.5B; Lyft had quarterly net loss of US$356M and annual loss of US$2.6B. Both plan to be EBITDA positive by the end of 2020. [more]
Industry expected to reach US$553 million by 2025. Ontario starts a 5-year pilot project as Calgary reviews its completed pilot, while in New York, a bill to legalize e-scooters is vetoed by the governor due to safety concerns. [more]
Offering e-bikes, e-scooters, e-trikes and car ride-share solutions, the combined company would form the 3rd largest micro-mobility footprint in North America [more]
E-scooter companies Neutron Holdings, Inc, which operates under the name Lime, and Bird Rides, Inc., were each valued at over US$2 billion during their latest financing rounds. [more]
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