Shared-electric-scooter startups have blazed into cities across the world over the past two years. Fueled by roughly $1.5 billion in venture capital, industry leaders Bird Rides Inc. and Lime raced to set up sprawling networks of scooter fleets that users can rent with an app. Over the past year, that breakneck pace of global growth—which has enabled users in more than 200 cities across the world to rent a scooter for a few hours and pay with their phones—has caught up with these companies.

Source: Wall Street Journal January 24, 2020 11:05 UTC