Is Micromobility Coming to a Standstill as Bird Hints its Running out of Cash?

The business of micromobility could be the next in line to suffer from the latest changes in the macroeconomic backdrop as Bird Global, one of the most prominent players in the space, has warned that could run out of business if it fails to secure further financing.

In its recently published quarterly earnings report covering the third quarter of the 2022 fiscal year, the company issued a going concern warning as it stated that its ability to stay afloat in the near term will largely depend on obtaining financing “on reasonable terms”.