Bird was counting money in customers’ digital “wallets” as revenue, and has admitted that financial statements from 2020 and 2021 “should no longer be relied upon.”

“Bird overstated the revenue it received from its shared electric scooters for at least two years, the company admitted in documents filed (PDF) with the US Securities and Exchange Commission Monday,” reports Andre J. Hawkins.
“The phantom revenue was discovered after an audit of financial statements from 2020 and 2021 in which Bird found it was counting as revenue customers’ preloaded ‘wallet’ balances following the completion of certain scooter trips,” according to the article.
A noted by the article, the financial miscalculations are the latest setback for the company credited with sparking the scooter boom of 2018 (after the company’s founding in April 2017). With shakeups in leadership and the end of operations in multiple European countries, there’s plenty to read about the current state of Bird at the source article below.
FULL STORY: Bird overstated shared electric scooter revenue for two years

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
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