New rule requires startups remove scooters from SF streets
May 29, 2018
A San Francisco agency has released a permit application for electric scooter companies, a move that forces startups such as Lime, Spin and Bird to remove their scooters from the streets. The companies can return the scooters once they've completed the application and are issued a permit that allows them to operate within the city for a one-year pilot program. The law goes into effect June 4; the city will begin reviewing applications June 7.
All three companies made their scooters available on San Francisco sidewalks earlier this year and, despite controversy, have had a lot of success with VCs. Lime is reportedly looking to raise up to $500 million in new equity and debt funding, and Bird was valued at $400 million in March with a $100 million VC round. Meanwhile, another scooter startup, GOAT, launched in Austin last week and Skip, which also offers a scooter rental service, raised $6 million earlier this month.
View Lime, Spin and Bird's free profiles.
All three companies made their scooters available on San Francisco sidewalks earlier this year and, despite controversy, have had a lot of success with VCs. Lime is reportedly looking to raise up to $500 million in new equity and debt funding, and Bird was valued at $400 million in March with a $100 million VC round. Meanwhile, another scooter startup, GOAT, launched in Austin last week and Skip, which also offers a scooter rental service, raised $6 million earlier this month.
View Lime, Spin and Bird's free profiles.
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