Electric scooter Bird Global steers into bankruptcy protection in bid to repair its finances

Electric scooter company Bird Global announced Wednesday that it has filed for bankruptcy protection in an attempt to stabilize its wobbly finances. The move marks a sobering comedown for a formerly high-flying startup that was trying to make it easier to get around big cities in an environmentally friendly way with its fleet of electric scooters. The concept attracted about $500 million in investments from prominent Silicon Valley venture capital firms such as Sequoia Capital and Accel Partners before becoming a publicly traded company in 2021. Now, the Miami-based company finds itself struggling to survive after losing more than $430 million since the end of 2021.