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    HomeNewsBird Rides Emerges from Ashes of Bankruptcy Under New Parent Company

    Bird Rides Emerges from Ashes of Bankruptcy Under New Parent Company

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    The City of West Hollywood city council voted to end their contract with Bird Rides, Inc after the company filed for Chapter 11 Bankruptcy and failed to inform WeHo City,—however, Bird, a prominent player in the micro mobility industry, announced this past Friday of its emergence from Chapter 11 proceedings, marking a significant milestone in its corporate trajectory. Under a newly organized private parent company named Third Lane Mobility Inc., the company has completed a strategic transaction aimed at fortifying its financial position and paving the way for sustained growth.

    The transaction, which saw the sale of Bird’s assets to Third Lane Mobility, incorporates both the Bird and Spin brands. This development underscores the company’s commitment to continue operating and serving cities worldwide. With a focus on North America, Europe, the Middle East, and Asia, Bird and Spin are poised for long-term, sustainable expansion according to a press release.

    Recent months have witnessed both Bird and Spin securing multiple competitive bids and expanding their services into new cities. Notable additions include Corpus Christi, Texas; Greensboro, North Carolina; the University of Illinois; Surrey and Mississauga, Canada; Naples and Torino, Italy; as well as renewals of service in Gap, France, and Zaragoza, Spain.

    Michael Washinushi, Co-CEO of Bird, expressed optimism about the company’s future, stating that Friday’s anouncement, “marks the beginning of a new chapter for us as we embark on our next step as a private company.” He emphasized Bird’s enhanced financial strength and global growth prospects.

    As the spring season commences and communities embrace outdoor activities, Bird and Spin anticipate a surge in demand. With nearly 90 markets reopening and an estimated availability of over 200,000 vehicles worldwide, including the latest technologically advanced models, the companies forecast millions of rides in the coming months.

    Stewart Lyons, Co-CEO of Bird, underscored the company’s commitment to sustainability and collaboration with communities. “We are excited to partner with all these communities, working together to enhance the livability of each one,” Lyons said.

    Highlighting the environmental impact of micromobility, Bird and Spin reported that riders collectively traveled over 51 million miles globally in the past year, contributing to a significant reduction in carbon emissions. Bird’s acquisition of Spin in September 2023 solidified its position as the largest micromobility operator in North America.

    The successful emergence from Chapter 11 proceedings signals a fresh start for Bird, setting the stage for continued innovation and collaboration as it navigates the evolving landscape of urban transportation.

    On December 20, 2023, West Hollywood City staff received unexpected news via email of Bird’s filing for voluntary Chapter 11 bankruptcy. According to the Staff report, Bird had not informed the City beforehand, despite ongoing negotiations for a Second Phase Agreement.

    After careful review of publicly accessible bankruptcy filings, both staff and the City Attorney advised against proceeding with the Second Phase Agreement with Bird. Instead, they recommended allowing the existing contract with Bird to lapse by March 31, 2024. The decision stems from concerns about Bird’s financial stability and the uncertainties accompanying bankruptcy proceedings, which could impede their ability to meet contractual obligations, thereby jeopardizing the City’s interests.

    However, City staff did recommend that should Bird successfully reorganize and demonstrate its capability to resume municipal partnerships, the City would be open to revisiting potential agreements in future program phases, so we may not have seen the last of Bird in WeHo yet.

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    Paulo Murillo
    Paulo Murillohttps://wehotimes.com
    Paulo Murillo is Editor in Chief and Publisher of WEHO TIMES. He brings over 20 years of experience as a columnist, reporter, and photo journalist. Murillo began his professional writing career as the author of “Love Ya, Mean It,” an irreverent and sometimes controversial West Hollywood lifestyle column for FAB! newspaper. His work has appeared in numerous print and online publications, which include the “Hot Topic” column in Frontiers magazine, where he covered breaking news and local events in West Hollywood. He can be reached at [email protected]

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    Jonathan
    Jonathan
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    2 months ago

    why I’m amazed to find the new owners spouting the same old same old BS about helping the environment and working with city partners idk but amazed am I. The whole dockless model of rentable scooters should by now be patently obviously a sham. Bird in particular by operating gas guzzling and GHG spewing vans to relocate and service its scooters must have been laughing at the gullibility of the public. Beyond that of course is the fact that these motorized vehicles largely replace walking and cycling rather than autos. The San Diego based SafeWalkways group makes this very clear… Read more »

    Tom
    Tom
    Offline
    3 months ago

    Well thank goodness. I was afraid that WeHo wouldn’t have the joy of having two vendors of stupid toys for overgrown children and deluded city official who are convinced that residents are using these to transport a weeks groceries. How would the elderly get that needed exercise if they aren’t dodging these idiotic “last mile solutions?”

    I’m sure Chelsea is already drawing up plans to remake and rename Fountain as the Byers Bike & Scooter Expressway: no cars, no parking, no stop signs, no Jews.

    Thomas S
    Thomas S
    Offline
    3 months ago

    Great research Just keep this SH otta here boo

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