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Startups Uber/Lyft

How Segway-Ninebot Became the Go-To Scooter Maker for Rental Startups

As electric scooter-rental startups like Bird and Lime battle for market share on American streets, one company is already a winner: Segway-Ninebot, the Beijing-based firm that makes the scooters both companies use.

The tech industry’s go-to scooter maker, which first made headlines when it acquired the self-balancing vehicle pioneer Segway three years ago, is seeing a surge in revenue, in part thanks to the scooter-rental craze. Now, it’s seeking to capitalize on the moment by holding early talks with investors to raise $200 million at a valuation of more than $2 billion. The company’s founder and CEO Gao Lufeng will be flying to the U.S. to meet potential investors early next month.

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