Ford Acquires San Francisco Based Electric Scooter Company Spin

Irving Hamilton
November 10, 2018

Spin now operates in nine U.S. cities: Long Beach, California; Austin, Texas; Denver, Colorado; Jefferson City, Montana; Coral Gables, Florida; Charlotte, North Carolina; Durham, North Carolina; Washington, DC; and Detroit, Michigan. Spin is now available in approximately 12 cities, including Long Beach, California, Detroit, and Coral Gables, Florida.

The US automaker will invest about $200 million in Spin, Reuters reported, citing an anonymous source. This makes it much smaller than Bird and Lime, the startups that have emerged as market leaders. Lime, which raised $467 million from the likes of Uber and Alphabet at more than a $1 billion valuation, and Bird, which raised $415 million and valued at more than $2 billion.

If you've walked the streets of a major American city lately, you very well might have nearly tripped over one of those electric stand-up scooters that are either littering every sidewalk, or simplifying residents' commutes, depending on how you look at it.

Ford has recently acquired a San Francisco based electric scooter sharing company- Spin for $40 million.

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Ford confirmed the deal, via a blog post, on Thursday. Sunny Madra, vice president of Ford X, the vehicle company's startup incubator, wrote that the acquisition is a way to diversify its offerings and capture customers who do not want to own a auto.

Ford is taking its mobility business on two wheels.

Spin is a San Francisco based scooter sharing start-up which is one of the companies that has made scooters popular on the streets of USA.

In an interview with Automotive News Sunny Madra, head of Ford X, the company's mobility incubation arm, stated Spin, under Ford's wing, will launch in around 100 cities over the next 18 months.

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