What is bird scooter stock symbol?

Bird scooters are stand-up electric scooters that can be rented through a mobile app in various cities around the world. The company behind the scooters, Bird Rides, Inc., is a privately held startup that was founded in 2017 in Santa Monica, California. As of October 2023, Bird has not yet had an initial public offering (IPO) to become a publicly traded company on the stock market and therefore does not currently have a stock ticker symbol.

The Rise of Electric Scooter Sharing

Bird was one of the first companies to popularize the concept of shared electric scooter networks. The basis of the business model is that individuals can use the Bird app to locate and unlock scooters parked on city streets and sidewalks. Riders pay a small fee to start a ride, and then a per minute fee while using the scooter. When done, they end the ride through the app and park the scooter at their destination for the next user. This allows for short trips around cities without needing a car or public transportation.

The electric scooter sharing trend began in late 2017 with companies like Bird and rival Lime deploying fleets of scooters in cities like Santa Monica, San Diego, and San Francisco. The scooter systems quickly expanded to major metros across the United States and internationally as well. Cities have had to grapple with integrating this new form of micro-mobility into existing transportation networks and regulations. However, the scooter systems have proven popular for their convenience and potential to reduce short car trips.

Bird’s Funding and Valuation

As a young startup, Bird has raised extensive venture capital and private equity funding to launch and expand its operations:

• February 2018 – $15 million Series A round led by Craft Ventures and Goldcrest Capital
• June 2018 – $100 million Series B round led by Sequoia Capital and Valor Equity Partners
• September 2018 – $150 million Series C round led by Sequoia Capital and Valor Equity Partners
• January 2019 – $300 million Series D round led by Sequoia Capital, CDPQ, and Greenspring Associates
• October 2019 – $275 million Series D extension round
• April 2021 – $150 million private equity round

This brings Bird’s total disclosed funding to just over $1 billion prior to any IPO. Reports indicate the company was valued at $2.3 billion after the initial part of its Series D in 2019. While the company is still private, its sizable funding rounds and growing valuation signify strong investor interest in the electric scooter industry.

When Could Bird Potentially IPO?

Many technology companies that raise extensive venture capital will eventually have an initial public offering (IPO) once they reach scale. This provides a way for early investors to realize returns and allows the company to raise funds from public market investors as well.

Here is an analysis of when Bird could realistically debut on the stock market:

• Late 2023 or 2024 – A 2023/2024 target would align with ~5-6 years after the company’s 2017 founding. This timeframe has been typical for many venture-backed technology companies before going public.
• At least $1 billion in run-rate revenue – Being on pace to generate $1 billion in annual recurring sales could make Bird ready for its IPO. This level of scale may be required to attract strong investor interest in the public markets.
• Profitability – Bird will likely want to demonstrate a path to profitability before its IPO. This comes down to achieving high utilization rates for its scooter fleets and optimizing operations in key markets.
• U.S. market position – Maintaining a top U.S. market share will be important. Competition has increased from Lime, Spin, Lyft, Uber, and others. Dominance in its home market signals business strength.
• International expansion – Having operations in Europe, the Middle East, Asia Pacific, and Latin America can showcase Bird’s global opportunity beyond just North America.

The above factors can help position Bird as an attractive investment candidate and yield a successful IPO. However, no definitive timeline is set as the company remains private. Bird also has ample VC funding to sustain itself without needing immediate public capital.

Possible Stock Symbol Choices

When Bird does finally move forward with an IPO, one key detail will be deciding on its stock ticker symbol. While the exact stock symbol is not determined until shortly before going public, here are some potential options that Bird could pursue:

• BIRD – The most obvious choice. Using its company name directly for the stock symbol creates strong branding.
• SCOOT – Focuses on Bird’s core electric scooter product while differentiated from its name.
• BRDS – An abbreviation of “Bird Scooters”. This gets the company name and function into a compact symbol.
• MICRO – To emphasize the “micro-mobility” aspect of its service offering.
• RIDE – Fits with the transportation and mobility focus of the business model.

BIRD would seem to be the clear first choice if available. However, the company will have to see what stock symbols are still open when they go public. Some of the more creative options above could work as well. And if BIRD is taken, similar options like BYRD or BRDI could be alternatives.

How an IPO Could Impact Bird’s Business Model

Becoming a public company could have important impacts on Bird’s operations:

• Access to capital – Being publicly traded opens up new funding sources to power expansion, such as issuing additional stock. This can support growth into new markets.
• Acquisition currency – Stock can be used for acquisitions instead of cash. Bird could pursue smaller scooter companies or related transportation startups.
• Talent acquisition – Vested employee stock compensation provides a draw for attracting top talent who can drive innovation.
• Brand recognition – Increased public visibility from being a high-profile public company. This further promotes awareness of its service to riders.

However, there are downsides of being publicly traded as well:

• Short-term focus – Pressure to hit near-term numbers each quarter to satisfy Wall Street.
• Disclosure requirements – Revealing competitive insights through required reporting that competitors can monitor.
• Compliance costs – Additional legal, accounting, and compliance expenses as a public company.

Overall though, an IPO creates opportunities for Bird that appear to outweigh the negatives. And the scooter market remains in growth mode where Bird can better manage public company pressures.

Bird’s Valuation Multiple Upon IPO

The key factor that will determine Bird’s market capitalization at IPO will be the revenue multiple it is valued at by public investors. Here is an analysis of potential IPO valuation scenarios:

Multiples between 5x and 15x revenue would be reasonable based on valuations given to other high-growth technology companies. The exact multiple will come down to investor sentiment around the scooter industry’s growth and profitability outlook when Bird hits the public markets.

Comparing Bird to Publicly Traded Transportation Companies

Looking at market valuations of other publicly traded transportation companies can provide useful context on what to expect for Bird’s potential IPO valuation:

Uber as the leading rideshare player commands the highest multiple at about 4x revenue. Lyft trades at a discount to Uber. Car rental and car sharing companies like Zipcar trade at lower multiples in the 1-2x range. An electric scooter model likely falls somewhere between ridesharing and rental cars in investor appeal. Therefore, reasonable IPO multiples for Bird could be in the 3-8x revenue range depending on market conditions.

Conclusion

In summary, Bird appears positioned to potentially launch an IPO in the 2023/2024 timeframe as an emerging leader in shared electric scooter networks. It does not currently have a stock ticker symbol since it remains a private company. However, BIRD would be a logical pick for its eventual stock market trading debut. The IPO would allow Bird to raise additional capital to fund growth and provide liquidity to early investors. Reasonable IPO valuations could be in the $5 billion to $15 billion range depending on revenue scale and multiples between 3-8x sales. While the exact timeline remains uncertain, Bird’s innovative transportation model and strong market adoption make it a compelling future public company once the timing is right.