Opportunity for local shared mobility solutions as Bird and Micromobility.com struggle to turn a profit
May 30, 2023
min. read
Shared mobility companies Bird and Micromobility.com (formerly Helbiz) stormed onto the scene by introducing innovative and convenient transportation solutions, capturing the attention of urban dwellers worldwide.
However, as the micromobility industry enters a more mature phase, companies like Bird and Micromobility.com continue to grapple with obstacles when it comes to attaining financial stability. This has prompted them to reassess their excessively ambitious expansion strategies.
What factors contribute to these challenges, and what implications does this hold for the industry as a whole? Could local micromobility ventures provide a superior solution to meet the increasing demand for these services? Let's delve further into the financial predicament of Bird and Micromobility.com to gain a better understanding.
Bird: downsizing and struggles in the stock market
Established in 2017, Bird is a micromobility company that provides electric transportation solutions in the USA and Europe. Their range of shared vehicles includes e-scooters and e-bikes. The company also sells vehicles to distributors, retailers, and direct customers. With its headquarters located in Miami, Florida, Bird currently employs 425 individuals and operates in 105 cities.
Recently, Bird's first-quarter 2023 financials revealed challenges in maintaining ridership and revenue. Despite implementing cost-cutting measures, the company's performance failed to convince investors of its ability to achieve profitability – the company's stock plummeted nearly 19% after announcing its first-quarter earnings.
In 2022, Bird faced a challenging year. The company announced plans to completely exit Germany, Sweden, and Norway, as well as wind down operations in numerous other markets, primarily small to mid-sized, across the U.S., Europe, the Middle East, and Africa. They also reduced their staff by 23%.
Despite a positive revenue increase of 12.06% in 2022, the company faced substantial losses totaling $358.74 million, marking a significant 66.9% increase compared to 2021. The challenges continued in 2023 as Bird witnessed a decline in rides and deployed vehicles. With a net loss of $44.3 million recorded at the end of Q1 2023, it’s likely that the company will continue to downsize its operations.
Micromobility.com: similar woes despite the acquisition of Wheels and rebranding
Founded in 2015 and headquartered in New York, Micromobility.com delivers micromobility services in Italy, the United States, and Singapore (43 cities in total), which include e-scooters, e-bicycles, and e-mopeds. It also operates Helbiz Kitchen, a delivery-only ghost kitchen restaurant, and the Helbiz Live streaming platform. The company currently employs 284 people.
In 2023, the company, formerly known as Helbiz, underwent a rebranding and transformed into Micromobility.com Inc. This rebranding coincided with the plans to launch retail stores across the United States.
In 2022, Micromobility.com successfully completed its acquisition of Wheels, a shared micromobility operator, along with promises to its investors that the merger would lead to a doubling of annual revenue and facilitate the path to profitability. The company set its sights on capitalizing on Wheels' extensive user base of 5 million riders and venturing into untapped markets.
Despite these hopes, Micromobility.com experienced less than stellar financial results in 2022. The company achieved a revenue of $15.54 million, indicating a 21.07% growth compared to the previous year's $12.83 million. However, the company also incurred losses amounting to -$82.07 million, reflecting a 13.3% increase compared to 2021.
In 2023, Micromobility.com announced a reverse stock split to meet Nasdaq Capital Market's minimum bid price requirement and make their common stock more attractive to investors. This move didn't come as a surprise, considering that the company received a delisting warning from Nasdaq in 2022. Coupled with its enduring track record of operating losses and negative cash flows over time, the overall outlook of the company's financial performance is rather discouraging.
Why are Bird and Micromobility.com facing financial difficulties and exiting markets?
The difficulties faced by Bird and Micromobility.com can be partly explained by their venture capital-backed business model. They witnessed swift expansion while hemorrhaging substantial amounts of money. And the more they expanded, the more money they bled. Now, it’s unsurprising to witness their heavily subsidized business models shifting their priorities from aggressive growth to mitigating losses and striving for profitability.
In recent years, there has been a surge in the popularity of shared mobility special purpose acquisition companies (SPAC). These companies are created solely for the purpose of raising capital through an initial public offering and have no commercial operations of their own. The ultimate goal of a SPAC is to acquire or merge with an existing company.
Financial struggles have become a common theme among shared mobility SPACs This can be attributed to the rush of companies going public without first establishing a sustainable business model – and Bird and Micromobility.com are no exception to this trend. The challenges faced by these companies emphasize the significance of building a strong and viable foundation prior to entering the public market.
The relentless pursuit of expansion has proven to be an ineffective strategy. For instance, some experts suggest that Bird's decision to outsource its operations to franchises made it harder to persuade cities and secure contracts. Their emphasis on breadth rather than depth resulted in a lack of understanding regarding local communities and the nuances of local legislation. As a result, major players like Bird and Micromobility.com have been withdrawing their fleets from “less profitable” cities.
The soaring shared micromobility market: a golden opportunity for local entrepreneurs
According to a McKinsey study, the shared micromobility market has the potential to reach a staggering $50 billion to $90 billion by 2030, with an estimated annual growth rate of approximately 40% between 2019 and 2030. By 2030, shared micromobility could constitute around 10% of the overall shared mobility market.
In this context, the recent financial challenges faced by Bird and Micromobility.com should not be seen as indicative of a bleak future for the entire industry. Instead, these setbacks highlight the inherent unsustainability of aggressive and expansive business models within the shared micromobility landscape.
Local operators with smaller ground teams enjoy a notable edge over companies like Bird and Micromobility.com. By focusing on underserved markets and having an intimate understanding of their communities, these operators can deliver superior service while maintaining lower costs and stable profit margins.
Returning to Bird's Q1 2023 financial report, they also reported 0.9 rides per deployed vehicle per day. Now, let's compare this figure to other operators. We conducted a survey involving two EU-based operators that make use of Atom Mobility:
- Operator 1: With a fleet of 4,000+ vehicles across over 10 cities, they recorded an average ride per vehicle of 0.9 in Q1 2023
- Operator 2: Operating in a single city with a fleet of 200 vehicles, they achieved an average ride per vehicle of 2.7 in Q1 2023
As fleet sizes increase, the average ride per vehicle tends to decrease, as seen with Operator 1 and Bird. However, the figure from Operator 2 highlights the potential for local operators to thrive in underserved cities that larger shared mobility companies may neglect.
We have seen examples of this – Go Green City, a Swiss electric moped-sharing company, presently provides its services in Zurich and Basel. Their small, tightly-knit team prioritizes local knowledge, enabling them to operate with enhanced flexibility and agility – a level of service that larger companies like Bird or Micromobility.com will find challenging to match. Overall, more than 100 projects have successfully launched their shared mobility ventures with Atom Mobility's assistance, operating in over 140 cities across the globe.
As the desire for shared micromobility services grows – with a focus on community safety and the ethical integration of these modes of transportation into the overall urban transit system – it seems that local operators have a distinct edge over large multinationals.
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How to retain drivers on your ride-hailing platform long term
🚗💬 Why do ride-hail drivers quit – and what makes them stay? We break down insights from the 2025 Gig Driver Report and show how ATOM Mobility helps platforms keep drivers happy with instant payouts, dynamic pricing, and smarter tools.
September 23, 2025
min. read
How to retain drivers on your ride-hailing platform long term
In the ride-hailing business, getting enough drivers online is critical. But keeping them there is what really drives long-term success. Unlike traditional taxi services, ride-hailing drivers are independent contractors. They don’t have fixed shifts, guaranteed income, or long-term contracts. They log on when it suits them, and just as quickly, they can log off – or switch to another app.
That flexibility means you're not only competing for riders. You're also competing for drivers, every single day.
What makes ride-hailing different for drivers
Compared to traditional taxis, the ride-hailing model offers drivers more independence but less security. Taxi drivers usually worked under a dispatcher, used company-owned vehicles, and followed a set schedule. Ride-hailing drivers use their own car, their own time, and often multiple apps.
The benefits are clear: flexibility, lower entry barriers, and instant access to earnings. But the downsides are just as real: unpredictable income, lack of support, and platform instability. For platforms, that means driver loyalty is fragile. Small changes – like delayed payments or fewer rides – can cause drivers to leave.
Why driver retention matters
Most ride-hailing operators focus heavily on passenger growth. But without enough reliable drivers, demand turns into frustration. When wait times grow or no vehicles are available, users abandon the app. This makes driver retention a key metric – not just for operations but also for brand trust and profitability.
It’s more expensive to onboard a new driver than to keep an experienced one. A stable driver base delivers smoother rides, higher ratings, and better service coverage. If your drivers are churning every few weeks, your entire operation becomes reactive.
Inside the 2025 Gig Driver Report
A recent survey by Everee sheds light on what drivers want - and what makes them quit. In May 2025, 419 gig drivers in the U.S. were surveyed. Most of them worked across multiple apps, including Uber, Lyft and Shipt. The full findings are available in the 2025 Gig Driver Report by Everee.
Key findings:
- 68% of drivers work with two or more gig apps every month. Only 32% stick to one.
- 84% say fast access to earnings is important or very important when deciding where to work.
- 70% of drivers want their money within 24 hours.
- 44% would consider quitting if instant payouts became slower or more expensive.
- 21% would leave if onboarding took too long.
These numbers show how sensitive drivers are to delays, unclear policies, and inefficiencies. A small friction point in your system could be enough to push them to a competitor.
Why drivers leave
The survey also highlighted the most common reasons drivers stop working with a platform:
- 59% left after a sudden drop in pay rates or bonuses
- 48% due to fewer available jobs
- 44% when fees or restrictions were added to instant payouts
- 41% because of safety concerns during pickups or drop-offs
- 39% due to rigid scheduling or lack of flexibility
In short, if drivers feel their earnings or control are at risk, they move on. The ride-hailing industry is too competitive for platforms to assume drivers will stay loyal without constant support and improvement.
What platforms can do to retain drivers
To retain drivers long term, platforms need to act on what drivers value most. According to the same report, the top three areas that would increase loyalty are:
- Guaranteed minimum earnings or predictable income
- Better access to instant payouts
- A smoother, faster onboarding process
Additionally, drivers want to feel that their time is respected, their safety is prioritized, and that they are not left guessing about payments or platform changes.
How ATOM Mobility helps you build driver loyalty
With ATOM Mobility’s platform, ride-hailing operators have access to several features designed specifically with drivers in mind.
The “Offer Your Price” feature allows riders to bid slightly more during high demand or bad traffic conditions, giving drivers the chance to earn extra when it matters most.
Dynamic pricing lets operators automatically raise fares during weekends, holidays, or peak hours so that drivers earn more when demand spikes.
One of the most impactful tools is the instant revenue split system, where a driver’s commission is transferred directly to their Stripe Connect account after every successful ride. This eliminates waiting times and builds trust through real-time, transparent payouts.
To make things even smoother, ATOM Mobility offers a dedicated driver app where drivers can track performance, see earnings, and review ride history.
All of this adds up to a professional, transparent experience for drivers - and a stronger incentive to stay on your platform long term.
A dedicated driver app helps drivers track performance, earnings, and ride history. This kind of visibility increases engagement and reduces confusion. Instead of contacting support for payment questions, drivers can see everything directly in the app. The experience feels more professional and structured – which increases the chance they’ll stay longer.
You can explore the dedicated driver app in more detail on driver app overview.
Faster onboarding leads to faster activation
Another key piece of retention is how quickly drivers can get started. Platforms that make onboarding long or confusing lose drivers before the first ride. ATOM Mobility supports streamlined onboarding flows with pre-filled fields, automatic document validation, and built-in guides. In some cases, drivers can be onboarded, verified, and ready to drive within hours – not days.
A better experience creates loyalty
Drivers are not just users of your app – they are ambassadors of your brand. Every interaction they have, from the first sign-up to the latest payout, shapes how they feel about your platform. If it’s smooth, fair, and rewarding, they’re likely to stay. If not, they’ll be gone before the next weekend rush.
By investing in the right tools and understanding what really matters to drivers, platforms can reduce churn, increase satisfaction, and build a loyal driver base. And in a market where supply is everything, that loyalty pays off.
If you're building a ride-hailing operation and want to give your drivers a reason to stay, ATOM Mobility gives you the technology to make it happen. From instant payments to dynamic pricing and a dedicated driver app, everything is designed to keep your fleet active and engaged – for the long haul.
Blog
ATOM Connect 2025: Where Europe’s shared mobility leaders meet
👉 ATOM Connect 2025 is an exclusive shared mobility networking event hosted by ATOM Mobility in collaboration with INVERS. This focused gathering will bring together industry leaders, innovators, and decision-makers from Europe's car-sharing and car-rental sectors to explore the future of shared mobility.
September 16, 2025
min. read
What happens when professionals from Europe’s car sharing and car rental industries gather under one roof? You get a day filled with fresh ideas, insightful discussions, and valuable connections that help shape the future of mobility. That’s what awaits at ATOM Connect 2025 - a dedicated industry event hosted by ATOM Mobility in partnership with INVERS.
This year’s gathering takes place on October 30, 2025, in Riga, Latvia, at the panoramic top floor of the AC Hotel by Marriott. With views stretching across Riga’s historic Art Nouveau district, the setting offers an inspiring backdrop for meaningful conversations about the next steps in shared mobility.
Date & Time: October 30, 2025, from 15:00 onwards
Location: AC Hotel by Marriott, Riga (top floor with panoramic views)
Hosts: ATOM Mobility & INVERS
Format: Expert talks, interactive Q&A, networking sessions, and evening drinks
Topics covered:
- Market insights from INVERS
- Scaling car sharing businesses
- Digital transformation in rentals
- Corporate mobility opportunities
- Eastern Europe’s shared mobility landscape
Why Attend ATOM Connect 2025?
Learn from industry experts
The agenda is designed to address today’s most relevant mobility challenges. Expect data-driven insights from INVERS, practical strategies for scaling car sharing operations, discussions on digital rental solutions and corporate mobility, plus a closer look at the unique opportunities and challenges in Eastern Europe.
The event will also be joined by BYD, one of the world’s fastest-growing electric vehicle makers, who will showcase their innovative, affordable EVs at our event.
Build valuable connections
ATOM Connect 2025 is a focused gathering that brings together operators, rental businesses, and mobility experts from across Europe. With a mix of talks, networking breaks, and an evening reception, the event offers the perfect setting to exchange experiences, discuss challenges, and explore future partnerships.
Join the Conversation
If you’re active in car sharing or rental industry and want to stay ahead in a rapidly evolving market, ATOM Connect 2025 is a must-attend event. Together with INVERS, we’re creating a space where the European shared mobility community can connect, learn, and look toward the future.
👉 Save the date and request your spot today*: https://www.atommobility.com/atom-connect-2025
*Please note: ATOM Connect 2025 is intended for shared car mobility and car rental industry professionals. Registration requests will be reviewed before confirmation.
Driver App demo credentials - Email: test@atom.com, Password: driver
