Lime scooters have arrived in El Segundo to battle Bird. Just when it looked like El Segundo was getting its arms around Bird, Lime popped in just before the weekend. Lime is Bird’s biggest competitor. Now El Segundo has become a scooter hotbed.
Some of the City’s council members were not happy about how Bird just showed up in town and started to operate. They have gone to great lengths to try and work out a working relationship with the company. Now they will have to adjust their course.
One council member suggested contacting other scooter companies at the meeting. The thought was the City should try to get the best deal possible from the scooter companies. If one was offering a $1 per scooter, per day profit share for example, maybe another would offer $2? The economics of the scooters is covered here.
So who exactly is Lime? Well, for starters, they are a company with some deep financing. Uber and Alphabet (parent company to Google) are leading a group that will invest $335 million into Lime. This would put the company’s value at approximately $1.1 billion.
Big Money On Bird
Although that amount sounds staggering, the company still trails the approximate $2 billion that Bird is reportedly currently worth.
Lime is growing quickly. They are in close to 65 cities in the United States. They have also ventured overseas to hit five cities in Europe.
May was the first month that Lime launched their scooters. They have been running a similar service for bike rentals for about a year. Bikes have not been spotted in town so far.
The only other company that hasn’t entered into El Segundo is Spin. No word on whether they plan to jump in or not.