Startup Scout: SpinThu Nov 15 2018. 1 min read
Last week Ford acquired scooter startup Spin for a reported $40 million. The automaker is reportedly attracted to Spin's partnerships with cities where it operates. Spin CEO and founder Euwyn Poon said Ford's acquisition gives the 24-person startup a "more than healthy" budget to keep growing. Spin is a shared electric scooter company that provides dockless mobility systems in cities and campuses around the US. In July 2017, the company has launched the first stationless bicycle fleet in America and quickly expanded to dozens of other markets, including campuses such as UCSD. In April 2018, Spin launched electric scooters in San Francisco, and are in the process retro-fitting its entire fleet to focus exclusively on scooters. Its team is based across San Francisco, Miami, Austin, Seattle, and DC and includes members with experience from Lyft, Uber, Yik Yak, Samsung, Fitbit, and other leading technology companies. Headquarters Regions San Francisco Bay Area, West Coast, Western US Founded Date Nov 1, 2016 Founders Derrick Ko, Euwyn Poon, Zaizhuang Cheng Operating Status :Active Funding Status :M&A Last Funding Type : Series A Legal Name Skinny Labs Inc.