• Term Sheet - Thursday, November 8

    8 days ago - By Fortune

    A MOBILITY SMORGASBORD Good morning, Term Sheet readers.
    Ford is entering the scooter wars.
    The automaker is acquiring Spin, a San Francisco-based electric scooter company, in a deal pegged at approximately $80 million to $90 million. The startup had raised ~$8 million in venture funding at a $40 million valuation, which pales in comparison to e-scooter rivals Bird and Lime. It had expanded to nine cities, including Charlotte, Durham, and Detroit, as well as five college campuses.
    This acquisition makes it crystal clear that Ford is feeling the pressure from the increasing popularity of...
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  • Term Sheet - Thursday, November 8

    8 days ago - By Fortune

    A MOBILITY SMORGASBORD Good morning, Term Sheet readers.
    Ford is entering the scooter wars.
    The automaker is acquiring Spin, a San Francisco-based electric scooter company, in a deal pegged at approximately $80 million to $90 million. The startup had raised ~$8 million in venture funding at a $40 million valuation, which pales in comparison to e-scooter rivals Bird and Lime. It had expanded to nine cities, including Charlotte, Durham, and Detroit, as well as five college campuses.
    This acquisition makes it crystal clear that Ford is feeling the pressure from the increasing popularity of...
    Read more ...

     

  • Ford is buying scooter startup Spin

    8 days ago - By Chron

    Ford is buying Spin, a 24-person scooter startup based in San Francisco.
    Terms of the deal weren't disclosed, but Axios reported the price tag was $40 million.
    Ford sees the agreements Spin makes with cities as a possible precursor to rolling out self-driving vehicles.
    Ford is buying scooter startup Spin as doubles down on its investments in the future of transportation.
    Terms of the deal were not disclosed, but Axios' Dan Primack reported Wednesday a price tag of $40 million.
    Spin CEO and founder Euwyn Poon said Ford's acquisition gives the 24-person startup a "more than healthy" budget...
    Read more ...

     

  • Ford is buying scooter startup Spin

    Ford is buying scooter startup Spin

    8 days ago - By Business Insider

    Ford is buying Spin, a 24-person scooter startup based in San Francisco.
    Terms of the deal weren't disclosed, but Axios reported the price tag was $40 million.
    Ford sees the agreements Spin makes with cities as a possible precursor to rolling out self-driving vehicles.
    Ford is buying scooter startup Spin as doubles down on its investments in the future of transportation.
    Terms of the deal were not disclosed, but Axios' Dan Primack reported Wednesday a price tag of $40 million .
    Spin CEO and founder Euwyn Poon said Ford's acquisition gives the 24-person startup a "more than healthy" budget...
    Read more ...

     

  • Ford is buying scooter startup Spin

    Ford is buying scooter startup Spin

    8 days ago - By Business Insider

    Ford is buying Spin, a 24-person scooter startup based in San Francisco.
    Terms of the deal weren't disclosed, but Axios reported the price tag was $40 million.
    Ford sees the agreements Spin makes with cities as a possible precursor to rolling out self-driving vehicles.
    Ford is buying scooter startup Spin as doubles down on its investments in the future of transportation.
    Terms of the deal were not disclosed, but Axios' Dan Primack reported Wednesday a price tag of $40 million .
    Spin CEO and founder Euwyn Poon said Ford's acquisition gives the 24-person startup a "more than healthy" budget...
    Read more ...

     

  • Ford is buying e-scooter startup Spin

    8 days ago - By Fast Company

    Spin is only two years old, yet Ford will spend $200 million to acquire the company.
    The country's second-largest automaker has announced it is buying the San Francisco-based electric scooter rental startup, reports Reuters. Spin is only two years old, yet Ford will spend $200 million to acquire the company. Though some cities have found scooter startups to be more trouble then they are worth, the micro-mobility sector is only expected to grow as urbanites look for new alternatives to get them from one place to the next.
    Read more ...