F Ford Motor Company

(Adds details)

 
   By Josh Beckerman 
 

Scooter company Bird Rides Inc., which was valued at about $2 billion as of late 2018, has purchased San Francisco-based Scoot Networks Inc., which rents "Kick" scooters, motorbikes and electric bicycles.

Scoot's investors include Vision Ridge Capital and Scout Ventures.

Fellow scooter startup Lime also rapidly increased its valuation, reaching $2.4 billion as of early 2019.

Earlier this month, Bird introduced its first seated vehicle, the Bird Cruiser.

Many cities have sought restrictions on the industry, citing improperly parked scooters and safety risks.

The companies emphasize socially conscious features. Bird says its "mission is to make cities more livable by reducing car usage, traffic, and carbon emissions." Scoot said in March 2017 that its Scoot Mobility Operating System was a "blueprint for shared electric mobility to solve traffic congestion and emission challenges."

Last year, Ford Motor Co. (F) bought scooter-sharing company Spin.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

June 12, 2019 14:53 ET (18:53 GMT)

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