Spin joins Bird, Will continue to Operate as Independent Subsidiary under Spin Brand
Brit Moller, Head of Public Policy & Communications - SPIN
September 21, 2023
September 20, 2023 - SAN FRANCISCO - Skinny Labs, Inc., (doing business as Spin) has been acquired by Bird Global, Inc. (NYSE:BRDS), a leader in environmentally friendly electric transportation. Now a wholly-owned subsidiary of Bird Rides, Inc. Spin will remain a separate operating entity and brand with the same steadfast commitment to being the preferred operator of cities and universities across the country. The transaction makes Bird & Spin the largest micromobility operator in North America by market share.*
“We are excited to join forces with Bird, an innovative brand and a pioneer in micromobility. Together Bird and Spin create a powerful player in the North America market -- one that is focused on responsible partnership, bringing reliable alternative transportation options to the communities we serve, and creating a more sustainable future,” said Philip Reinckens, CEO of Spin.
Bird and Spin plan to leverage this leadership position to further expand its operations in multiple profitable key cities such as Baltimore, Salt Lake City, and Washington D.C, one of the top micromobility markets for cash flow in North America, as well as major university campuses such as Penn State University and the University of Michigan. Combined Bird and Spin now operate in 87% of the 50 most populous cities in the United States and Canadathat have a shared micromobility program.**
“We are thrilled to welcome the Spin team to the Bird family and excited to continue to execute on our shared vision of a more liveable, sustainable future,” said Michael Washinushi, Bird Interim CEO. “Bird and Spin have many strategic synergies, which we believe will have an immediate impact in the third quarter.”
Along with Bird, Spin has been an industry pioneer at deploying sidewalk detection technology at scale, and Spin’s fleet of swappable-battery vehicles are complementary to Bird’s. Spin has earned its position as a trusted resource for riders and cities alike and will continue to operate the brand independently in many cities.
Bird is an electric vehicle company dedicated to bringing affordable, environmentally friendly transportation solutions such as e-scooters and e-bikes to communities across the world. Bird’s cleaner, affordable, and on-demand mobility solutions are available in 350 cities, primarily across Canada, the United States, Europe, the Middle East, and Australia. We take a collaborative, community-first approach to micromobility. Bird partners closely with the cities in which it operates to provide a reliable and affordable transportation option for people who live and work there.
Headquartered in San Francisco, Spin is one of the leading micromobility companies. We currently operate dockless electric scooters in cities and on campuses in North America. Spin has been recognized for launching the first stationless mobility program in the United States and was instrumental in crafting the world’s first mobility permit system.
As a technology company that powers individual mobility for the benefit of all and strategically collaborates to reshape policy and redesign urban life, our mission is to create a world full of 15-minute cities—and to bring those cities to life by moving people freely through their streets.
*based on data compiled by Earnest Analytics as of June 30, 2023
**Based in U.S. Census Bureau data as of 2022 and Statistics Canada data as of 2022
Forward Looking Statement
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Bird’s future financial or operating performance. For example, projections of future revenue, and other metrics, business strategy and plans, and anticipated impacts from the acquisition of Skinny Labs, Inc. (d/b/a Spin) (the “Spin Acquisition”), are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Bird and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to the expansion plans and opportunities relating to the Spin Acquisition and the costs related to the Spin Acquisition. Other factors may also cause Bird’s actual results to differ materially from those expressed or implied in the forward-looking statements and such factors are discussed in Bird’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and subsequent reports filed by Bird with the SEC. Copies of Bird’s filings with the SEC may be obtained at the “SEC Filings” section of Bird’s website at www.bird.co or on the SEC’s website at www.sec.gov.
Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements included in this press release are made as of the date hereof. Bird is not under any obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate, whether as a result of new information, future events or otherwise, except as otherwise may be required by the federal securities laws.
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