Thinknum Alternative Data
Request Demo
Thinknum Login
Questions answered using Thinknum

Fundamental Investors

How many cars has Carmax sold this week compared to the same week last year?

How is foot traffic at Chipotle changing YoY?

What are the industrial companies that are growing and hiring the most?

Quantitative Analysts

How are the number of Twitter followers a leading indicator for company performance?

How are the number of LinkedIn employees a leading indicator for company performance?

Business Inteligence

Which private companies are getting their products picked up by major retailers?

Which private healthcare companies are hiring the most?

Which tech startups are getting the largest increase in mobile app downloads?

Get Ahead of Global Volatility with Alternative Data
Join us live on April 7th
Get Ahead of Global Volatility with Alternative Data - Join us live on April 7th
Reserve seat Dismiss

E-scooter companies like Lime are cutting jobs in response to Coronavirus

1 week ago by Julia Gray in Markets
Lime and Bird scooters

E-scooters seemed like a good idea at the time, around 2017. California-based scooter startups Lime ($LIMEBIKE) and Bird ($BIRD) saw an opportunity to make transit convenient, environmentally friendly, and even fun. But their vision has been falling apart at the seams. 

The environmental boon of people choosing to travel by e-scooter instead of a car is offset by the gig workers who have to drive around to charge and fix the scooters. There’s also the lack of job security for those workers, the potential rider injuries, and the public nuisance of sidewalks and streets littered with scooters.

Now, these companies are struggling to respond to Coronavirus, as former riders self-quarantine. Lime is currently trying to raise emergency funds through new investors at a $400 million valuation, down 80% from 2019. 

The company has shut down its scooter-rental operations in all but one market and has between $50 million and $70 million of cash left, The Information reports. That money is expected to only last a few months, even as the company lays off its staff. Since last week, Lime has cut job openings by 42%. Lime has already laid off over 100 employees from its 600-person staff this year, and the company plans to continue downsizing its team.

The review count for Lime in the Apple ($NASDAQ:AAPL) has continued to rise, but more reviews don't always mean good reviews. As Coronavirus spreads and scooters disappear in cities around the world, the company's faults are laid bare by the remaining few. Recent review subject lines read, "The worst bike app," "Do not use," and "Wouldn't know."

The post-Corona world might be one without electric scooters. We'll survive.

About the Data:

Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales. 

Further Reading: 

Join the businesses who have begun to edge out competitors by scouring the web for alternative data.

Request demo
Ready for a personalized tour?

Julia Gray

Julia is Thinknum's Innovation Editor. She also writes about music, art, and culture for the Washington Post, Playboy, Stereogum, Uproxx, and Paper Magazine.

Request a demo

We would love to show you how Thinknum will benefit your investment process. To get started, fill out the form and we'll contact you shortly to schedule your demo.

Get Thinknum Media in your inbox

Start the day off with our Weekly Digest.