Ford acquires e-scooter startup Spin

Spin, a San Francisco-based scooter-sharing startup

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“As more people consider scooters to be a viable mobility option, now’s the right time for Ford to work closely with Spin,” the automaker said in a statement. “Spin is an important step towards realizing our ambitious vision for the future of urban mobility.”

The San Francisco-based startup was one of the three companies that initially launched services in March but was forced to remove its electric scooters until the city determined a permitting process. The company currently operates in nine cities and five college campuses, and says it has facilitated more than 1 million rides.

Spin has raised just $8 million till date. Its competitors include Lime, Bird Uber, Lyft, Scoot and Skip. Spin operates a dockless system that allows users to unlock and rent a scooter using an app, picking it up and dropping it off anywhere in the service area.

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