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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Blog
Digitalising the car rental industry – why it’s happening and what comes next
🚗 The car rental industry is finally catching up with modern mobility. From Norway to Mexico, users are skipping the desk and unlocking their rental cars with just a tap on their phone. Paper contracts, front desks, and "similar model" surprises are being replaced by fast, app-based experiences. Operators like Hyre, Sixt, and Avis are proving that going digital boosts revenue and improves customer satisfaction.
November 6, 2025
min. read
The car rental industry is finally going digital. Not with just a website and an app, but with a real transformation of how rentals work – from booking to unlocking the vehicle. Customers no longer want paper contracts, counters, or “similar model” surprises. They want convenience, predictability, and self-service.
That’s exactly what happened at Norway’s largest airports, where traditional rental giant Europcar lost its presence to Hyre – a local operator offering a mobile-first, fully digital blend of car rental and sharing. But it’s not just new players like Hyre pushing this shift. Established giants like Sixt and Avis are rapidly digitalising their rental flow as well – rolling out features like app-based bookings, mobile ID verification, and keyless access across key markets.
At ATOM Mobility, we’ve helped operators move toward this digital future for over seven years. The goal is simple: modernise outdated processes, improve the user experience, and create more profitable operations. And right now, the timing for this shift couldn’t be better.
From counters to apps: Why the rental experience is changing
Customer expectations have changed. Today’s users – especially younger ones and business travellers – are used to seamless, mobile-first journeys. They don’t want to queue at a desk, hand over their ID, wait for paperwork, or discover they’re getting a different car than they booked. And in many cases, they simply won’t accept it.
Hyre’s model responds to this new demand:
- A 100% digital rental experience, available via app, website, or walk-up self-service kiosk
- Real-time vehicle selection – you see and book the actual car you’ll drive
- Instant access via smartphone, no human interaction required
And the results are impressive:
- In 2019, Hyre made €1.1M in revenue with a €1.7M loss. In 2020 – €4.6M revenue, €0.2M profit
- By 2024, they reached ~€34M revenue and finally turned a solid profit
- They now operate 2,500+ vehicles, across 100+ models
- Average revenue per vehicle is ~€37/day (over €1,100/month) – around 50% higher than some other regional competitors
This shift is not just a trend in Norway. It’s a glimpse of where the car rental market is heading across Europe and beyond.
What users gain from a digital rental experience
The benefits for customers are obvious – and powerful:
- No waiting at the counter
Skip the lines, avoid awkward conversations, and get on the road faster. Operators like Sixt now offer full online check-in and mobile app flows that replace the desk altogether. - Car you booked = car you get
No more vague “or similar” surprises. Apps like Hyre and Sixt let you choose the actual vehicle, right before your trip. - No paperwork, no friction
Everything is handled in-app: driver’s license verification, payment, pickup, and return. - Unlock with your phone
Smartphone access makes key handover unnecessary. Some services also offer remote unlock support if something goes wrong. - On-demand rentals
Rent a car for an hour, a day, or a week – flexible durations are easier to offer with digital flows.
This is what the modern traveller wants: clarity, control, and speed.
Why operators are embracing digitalisation
While the user benefits are clear, the real business case lies in how much better digitalisation makes operations:
- Reduced staffing costs
With no need for front desk staff at every location, operators save significantly – especially at airports and peak-time zones. - Higher fleet utilisation
Real-time data enables better fleet distribution, faster turnover between rentals, and reduced downtime. - Better user data and insights
A mobile-first journey provides valuable usage data: when people rent, where, how long, and what kind of car. This helps with pricing, loyalty, and upselling. - Fewer manual errors and disputes
Digital contracts, ID checks, and timestamps reduce risk and improve accountability. - New revenue models
Digitalisation opens the door for hybrid models – like Sixt Share – where rental and car sharing meet. One fleet, multiple use cases.
Real examples: Hyre, Sixt, Avis, and Beyond
- Hyre (Norway): A leader in mobile-first car rental and sharing. Took over Europcar’s prime airport locations in 2024. Profitable, scalable, and 100% digital.
- Sixt: Offers online check-in, vehicle pre-selection, and app-based car access in key cities. Its Sixt Share product blends traditional rental and flexible car sharing in a single app. Sixt also lets customers select their exact car model up to 30 minutes before pickup.
- Avis Budget Group: Investing heavily in digital transformation – using AWS to build connected vehicle platforms and real-time user tracking. In Mexico, Avis even launched biometric identity verification, allowing renters to skip counters using facial recognition.
These companies understand that digitalisation isn’t about offering an app – it’s about rebuilding the rental experience around the user. And it's paying off.
What this means for operators (and how ATOM Mobility can help)
If you’re running a rental operation and still relying on paperwork, front desks, or disconnected tools, now’s the time to evolve.
Here’s how you can modernise your operations with help from ATOM Mobility:
- Replace paper with digital onboarding
Use in-app license scanning, facial verification, and automated approval flows. - Enable keyless vehicle access
Let users unlock the vehicle via app, securely and reliably. - Offer flexible rental durations
Go beyond daily rates – allow hourly, weekend, or hybrid rental periods. - Use data to guide pricing and availability
Monitor usage patterns and demand in real time. Adjust pricing zones dynamically. - Launch new revenue streams
With digital infrastructure in place, testing car sharing or subscriptions becomes much easier. - Cut costs and increase vehicle ROI
More bookings per vehicle, lower overhead, and happier customers – all enabled by a modern backend.
ATOM Mobility provides all the building blocks to power this shift. Whether you’re a traditional rental company l
ooking to go mobile-first, or a new operator exploring flexible mobility, we’ve built the tech to get you there.
The rental counter is going away
Car rental is becoming more like e-commerce: fast, digital, and customer-led. The counter, the queue, the paperwork – these are all parts of an older model that no longer meets expectations. The future lies in seamless, app-based access that lets users pick the car they want, when they want it.
The Hyre example shows what’s possible with the right model. Sixt and Avis show how even large incumbents are adapting. If you’re an operator – big or small – the time to start this shift is now.
And if you’re looking for a trusted partner to support you on that journey, ATOM Mobility digital rental software is ready. We help rental and car sharing businesses launch, scale, and thrive – with the tech that powers modern mobility.
Blog
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.
Driver App demo credentials - Email: test@atom.com, Password: driver
