Bird Global, Inc. (BRDS
) is a leading transportation technology company headquartered in Santa Monica, California. Founded in 2017 by Travis VanderZanden, the company operates a global network of shared electric scooters and bikes, aimed at providing sustainable and efficient modes of transportation for people in urban areas. The company has been growing rapidly since its inception, and has become a household name in the transportation industry.
The business of Bird Global is based on the concept of shared mobility, which refers to the sharing of vehicles by multiple users for short periods of time. Bird Global provides electric scooters and bikes that can be rented through a mobile app, enabling users to find and unlock vehicles and ride them to their destination. The company aims to provide a convenient, affordable, and eco-friendly mode of transportation that can reduce traffic congestion, air pollution, and carbon emissions.
Bird Global's business model is built on partnerships with local governments, universities, and businesses, which provide permits and support for the deployment of its vehicles in their respective communities. The company works closely with these stakeholders to ensure that its services meet the specific needs of each community, and to address any concerns related to safety, parking, and accessibility.
In addition to its core business of shared mobility, Bird Global has expanded its offerings to include other transportation services, such as delivery and logistics. The company has launched a platform called Bird Platform, which enables third-party companies to use Bird's fleet of vehicles for their own delivery and transportation needs. This has enabled Bird Global to diversify its revenue streams and expand its reach beyond the consumer market.
Bird Global has also invested heavily in research and development, with a focus on developing new technologies and products that can enhance the user experience and improve the sustainability of its operations. The company has launched several initiatives aimed at reducing its environmental footprint, such as using renewable energy sources to charge its vehicles and recycling materials used in its operations.
In terms of its current aspirations, Bird Global is focused on expanding its global footprint and increasing its market share in the transportation industry. The company has set its sights on entering new markets, both domestically and internationally, and has already launched its services in several new cities around the world. The company is also exploring opportunities to partner with other companies and organizations to further expand its reach and diversify its offerings.
One of the key challenges facing Bird Global is the regulatory environment in which it operates. The company has faced opposition from some local governments and residents who are concerned about the safety and impact of shared mobility on their communities. Bird Global has responded to these concerns by implementing strict safety protocols, partnering with local law enforcement agencies, and investing in education and outreach programs.
Another challenge facing Bird Global is the competitive landscape of the transportation industry. The company faces competition from both established players in the industry, such as Uber (UBER
) and Lyft (LYFT
), as well as from new entrants that are emerging in the market. To address this challenge, Bird Global is focused on building strong partnerships with local communities and businesses, and on continuing to innovate and improve its offerings to stay ahead of the competition.
Bird went public via SPAC back in 2021, and it has been nothing short of a bumpy ride since then.
Now, their finances aren't great, but I think this is just a tad bit overdone considering that they're trading at right around their cash level per share.
In recent news the company "announced completed purchases of BRDS Class A common stock on the
open market by certain officers and directors: Chief Executive Officer
Shane Torchiana, Chief Financial Officer Michael Washinushi, and
Chairman and Founder Travis VanderZanden, totaling over 1.5 million
'Our recent share purchases reflect our ongoing
confidence in Bird’s future and our ability to increase long-term
shareholder value,' said Shane Torchiana, CEO, Bird. 'We believe
there is a massive opportunity in front of us as we continue to offer
cleaner, equitable transportation alternatives, which is why we recently
issued guidance that we expect to achieve $5 to $10 million in free
cash flow and $15 to $20 million in positive adjusted EBITDA. We are
optimistic about our growth prospects while remaining laser focused on
reaching positive cash flow and profitability.'
And today they announced a global expansion:
"New North American city launches this spring include Dallas, Texas;
Lincoln, Nebraska; Logan, Utah; Montgomery, Alabama; and Pocatello,
Idaho; as well as numerous cities in the Greater Toronto Area. In
Europe, Bird will launch in numerous Italian cities, including Cervia,
Ercolano, Grosseto, and Cagliari; and will expand in Israel with a
launch in Ramat Hasharon."
Overall, Bird Global, Inc. is a dynamic and innovative company that is reshaping the transportation industry through its commitment to sustainability, convenience, and affordability. With its expanding network of shared mobility services, its focus on partnerships and innovation, and its commitment to reducing its environmental footprint, the company is well-positioned to continue its growth and success in the years to come. We think the stock is a buy at these levels.