Market Challenges Upend Three Micromobility Giants
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Global micromobility operators Bird Global, Superpedestrian, and Tier Mobility, barely survive a turbulent 2023, resorting to more layoffs, shuttering of operations, and in one case, filing for bankruptcy protection. Meanwhile, Lime bucks the trend with its success. Increasing competition and pressure from investors to see profitability after several years likely spurred the companies to try to grow too fast and have to quickly pull back. This report details the struggles of these companies, which hold some of the top positions in the market, how competitor Lime avoided a similar fate, and what needs to happen for the industry to see a turnaround.
