If you don’t live in a major US city or haven’t visited one in the past year, then there’s a good chance you’ve never heard of the e-scooter sharing economy. It’s just like Uber and Lyft except the vehicles are electric scooters. Flashy or not, their rise has been meteoric.
The two frontrunners – Lime and Bird – are each valued at over $2 Billion and they’ve been operating for less than 3 years. Bird was the quickest company to reach unicorn status ($1B valuation) – achieving it in just 10 months. Even Uber, Lyft, and Google are all staking their claim in this market.
If this is your first time hearing this or would like to better understand the hype behind electric scooters, check out this video:
There’s so much ambiguity associated with this market including regulations, profit margins, safety concerns, etc… So, we sat down with Matt Brueggeman, the CEO of Flex Mopeds, to clear to air on this e-scooter phenomenon and better understand where it may be headed.
To watch the recap video, click the button below: