4:16:48 PM PST - Wednesday, November 30th, 2022

How Bird clipped its own wings  

By Editor - Wed Nov 16, 1:34 pm

  • Comments Off on How Bird clipped its own wings

Well, those Bird results were wrong. It recently came to light that Bird, a former startup unicorn in the once-hot scooter rental market, overstated its revenue for several years, leading to the company stating in a filing with the U.S. Securities and Exchange Commission that several of its “audited consolidated financial statements [ … ] should no longer be relied upon.” The errors impact the company’s results for 2020 and 2021, along with the first two quarters of 2022. G iven that Bird announced its plan to go public by merging with a special purpose acquisition company in mid-2021, a transaction predicated on its trailing results, the accounting mess is consequential . The Exchange explores startups, markets and money. Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday.

The rest is here:

How Bird clipped its own wings

  • Comments Off on How Bird clipped its own wings

Leave a Reply

Comments are closed on this post.