Money

Uber Moving To Further Diversify Its Holdings With The Acquisition Of A Scooter Company

According to the Financial Times, Uber is being reported to be in acquisition talks to acquire the two scooter companies Bird and Lime.  This news was a little unexpected as in October Uber had launched its own bicycle line Jump.

Sources close to the companies involved in the talks state that the talks are just that and that any plans for acquisition could fall through at any moment.  Nothing is set in stone, and everything is still pretty much in the preliminary stages.  Initial reports indicated that Uber was very interested in both scooter companies and that they are more than expressing their interest at this point.

Image: Engadget

Those close to the talks stated that if Uber were to acquire one or more of the companies, it would significantly aide Uber’s scooter supply constraints that have been an issue since Uber’s own launch of their Jump brand of two-wheeled vehicles late this year.

Bird and Lime both are what are considered unicorns in the business industry.  They are both valued at over $1 billion, and recently expanded into the international markets this past year.

When contacted by the Financial Times, Uber declined to comment on the reported talks.  Lime, when contacted, refused to comment on the possible talks with Uber about their companies acquisition.  Bird, however, commented on the reports, and the CEO simply replied: “Bird is not for sale.”

Image: Futurism

Bird and Lime are not the only acquisitions, if the talks go through, that have been on Uber’s list of wants.  Uber, in fact, has been exploring multiple acquisitions over the past year, having already acquired the bicycle company Jump this past April as well as setting its eyes on the British food delivery company, Deliveroo.

If the talks are true and continue to Uber’s desired end, that would mean that Uber would be well on its way to diversifying its company.  With four distinct markets—taxi service, bicycles, scooters, and food delivery—they have more than a good chance of increasing the value of their mother companies stock value in the coming years.