All through 2019, a quantity of mobility corporations launched in further markets, whereas many pulled out of areas that not served them. In the meantime, transportation startups continued to boost more cash whilst they laid off workers, an indication that business consolidation has formally begun.
In October, Hen raised a $275 million Sequence D spherical at a $2.5 billion valuation. Previous to that spherical, Hen raised greater than $400 million in funding and reached a valuation of $2 billion final June. Lime additionally raised more cash final 12 months with a $310 million spherical in February led by Bain Capital. That spherical valued Lime at $2.four billion.
Regardless of Hen’s treasure chest, it laid off as much as 5% of its workforce in March, adopted by slicing as much as a dozen Scoot workers in December. Lyft, equally, additionally laid off as much as 50 folks on its bikes and scooters group in March. So it’s no surprise why Spin workers took the steps to kind a union; roughly 40 employees accountable for deployment, charging and repairs at the moment are a part of Teamsters Native 665.