Deals
Lime and Bird Raise Millions, But at Far Lower Valuations Than Hoped
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Two electric scooter startups, fresh off raising hundreds of millions of dollars last year, are now raising hundreds of millions more, according to multiple people familiar with the details. But the latest hard-fought deal terms for Lime and Bird Rides Inc. both peg the companies’ worth at far less than the lofty valuations the startups once sought.
New funding rounds for Lime and Bird value the California-based companies at about $2 billion, said the people, all of whom asked not to be identified because the details are private. That’s down from the roughly $3 billion-or-higher valuations the companies were said to be chasing as recently as a few months ago.