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Venture Capital Startups

Bird, Lime Seek Fresh Capital, Fatter Valuations

Lime and Bird, electric scooter startups that became two of the fastest firms to reach $1 billion valuations earlier this year, are already in the market for more. Bloomberg reports Lime and Bird are seeking hundreds of millions of dollars more from investors, with Lime discussing valuations of $3.3 billion or higher, up from its current $1.1 billion valuation. Bird in recent weeks also has had discussions with investors to hike its valuation from $2 billion to at least $5 billion, two people familiar with the matter told The Information. More capital would fuel the companies’ ambitions for global expansion and help them develop new kinds of vehicles. It also would fan skepticism about whether the companies can live up to high expectations, given the sector’s intense competition and high costs.

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