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I probably would’ve never learned to enjoy cycling if it wasn’t for the bike-sharing boom a few years ago. But the restrictiveness of regular bike rental spots – having to deal with time limits and needing to return bikes to where you got them – simply doesn’t encourage people to, say, cycle along the whole eastern coastline of Singapore.
(Which I did once with friends. My quads were on fire for days after. The Thai food we had for dinner that night was one of the most satisfying meals I’ve ever had though.)
While bike-sharing’s viability remains a question, that’s not the case for micromobility. E-scooter startups such as Singapore-headquartered Beam are seeing some success, reaching profitability in recent months – and they’ve done it by learning from some of the mistakes bike-sharing made in the past.
Today, we look at:
- How micromobility is making its comeback
- Winner winner “chicken” dinner – lab-grown chicken is now approved for sale in Singapore
- Other newsy highlights such as Salesforce’s acquisition of Slack and Airbnb’s grand IPO plans
PREMIUM SUMMARY
The micromobility industry is making like a phoenix
Prospects are looking bright for the micromobility scene, with e-scooter sharing startups gaining traction in markets such as Australia, New Zealand, South Korea, and Malaysia. With several of them – including the likes of Beam, Lime, and Tier (what’s with the one-word names?) – claiming profitability, things have taken a turn for the better after the demise of bike-sharing.
- Unexpected positives from the pandemic: In the wake of Covid-19, commuters are opting for open-air and socially distanced travel via e-scooters instead of taking crowded public transit or getting into vehicles with other people.
- Learning from past mistakes: Beam, for one, has been focused on achieving profitability instead of growth – no more wanton giveaways of free rides just to increase user numbers like in the bike-sharing days.
- Evolving regulations: E-scooter startups still need to contend with the regulations of different governments, as these often change over time. Nothing is yet set in stone for this relatively nascent industry.
Read more: Micromobility turns a corner as e-scooter startups like Beam become profitable
STARTUP SPOTLIGHT
Tastes like…chicken?
A year you won’t forget
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