According to Axios Ford buys Spin, an electric docking scooter company, for $ 40 million. The acquisition costs were estimated approximately after Spin received Series A funding last year.
It is not this deal that Ford entered the e-scooter market. Last month, the company began a scooter rental test at Purdue University under the name "Jelly". Ford has also been researching new mobility solutions since its acquisition of the San Francisco-based shuttle service Chariot in 2016 and has been running a docked bike sharing program in the Bay Area since 2013. Paradoxically, Motivate Ford, a bike-sharing company, partnered to launch GoBikes, and later Lyft took over and took the e-scooter game.
Spin is a SF-based company, but I heard a scooter shortly. In March. Other electric scooter starts, such as Lime and Bird, paused work in the city until the permit application was processed. (Only competitive start-ups, Skip and Scoot, are allowed to join SF in the near future.) Spin now operates in five university campuses in Charlotte, Denver, Detroit and Long Beach and nine cities. Today's acquisition by Ford will see the company bring its scooter to more cities.