| Net Worth: | $70 Million |
|---|---|
| Date of Birth: | February 7, 1979 (45 years old) |
| Gender: | Male |
| Profession: | Entrepreneur |
| Nationality: | United State Of America |
What is Travis VanderZanden’s Net Worth?
Travis VanderZanden is an American entrepreneur who has a net worth of $70 million. The most well-known accomplishment of Travis VanderZanden is his role as the founder and CEO of the scooter rental company Bird.
In 2017, Travis created Bird, and during the ensuing years, he raised more than $400 million in venture capital funding. Bird’s private valuation reached its highest from those two rounds at $2.8 billion.
In November 2021, Bird went public through SPAC at a $2.5 billion value. One year later, the company had lost 96% of its value, with a market worth of less than $90 million. In September 2022, Travis retired from his position as CEO.
Education
After completing his high school education at Appleton North High School in 1997, VanderZanden studied at the University of Wisconsin-Eau Claire from 1997 to 2002, earning a bachelor’s degree in business administration. He graduated in 2007 with a master’s in business administration from the USC Marshall School of Business.
Before Bird
Travis VanderZanden worked as a product manager for Qualcomm in 2002 after earning his degree from the University of Wisconsin-Eau Claire. The USC Marshall School of Business is where VanderZanden obtained his MBA after that.
He was hired in 2009 to serve as Yammer’s Chief Revenue Officer. He worked with Yammer until 2011 when he quit co-founding Cherry, an on-demand vehicle wash business. Through 2013, he led Cherry as its CEO before Lyft purchased the business.
Travis rose to the position of Chief Operating Officer at Lyft after joining the organization. He departed competitor Lyft a year later after being hired away by Uber, where he rose to the position of VP of International Growth.
Following that, Travis was sued by Lyft on grounds that he had violated a confidentiality agreement.
Bird
The bird was started in 2017 by Travis VanderZanden. In Santa Monica, California, and other areas of Los Angeles, the scooters first started to emerge in September 2017. As scooters spread and gained popularity, they sparked a great deal of criticism.
Before entering a new city, Bird did not request any permissions or permits. The scooters posed a significant risk to safety. Riders frequently collide with pedestrians while riding nearly exclusively on sidewalks, despite being told not to.
Additionally, when the riders did ride in the street, they frequently disregarded traffic regulations, stop signs, and other fundamental safety precautions, which resulted in numerous accidents.
The business had entered 120 cities worldwide by the year 2019. Along the way, Bird also drew in a lot of rivals.
Bird Valuations and Funding Rounds
Bird secured $15 million in Series A funding in February 2018. One month later, the company completed a $100 million Series B financing. Bird raised $150 million in a Series C round in May 2018 with the majority of the funding coming from Sequoia Capital.
For the first time, the company’s valuation surpassed $1 billion during this round. Bird became a “unicorn” firm at the fastest rate ever recorded in business history. In June 2018, Bird raised $300 million at a $2 billion valuation.
Bird finally received a private valuation of $2.8 billion following numerous further fundraising rounds. The amount of venture financing the business raised overall was considerably over $400 million.
Later rounds assumed that Travis’ personal stock position in Bird had decreased to 20%.
SPAC IPO
Travis’ ownership share had been cut to 13% by the time Bird agreed to a contract to IPO via SPAC in the spring of 2021. Bird went public via SPAC in November 2021, debuting at a price per share of about $8 and a market valuation of $2.5 billion.
His 13% ownership was worth $325 million at that point. One year after coming public, Bird’s stock price had decreased from a 52-week high of $11.25 to $0.34 per share. The company’s market capitalization decreased from $2.5 billion to $70 million. Travis’ 13% stake was worth almost $9 million at that new low.
Real Estate
Travis purchased a sizable, recently built house in Santa Monica, California, for $8 million in cash in November 2018. For $9 million, he sold this house in July 2021. For $21.7 million in January 2021, Travis acquired Trevor Noah’s Bel Air house.
Travis put the house on the market for just under $25 million less than six months later after deciding he no longer desired it. He reduced the price to $19.9 million in October 2022, but as of the time of this writing, he has not found a buyer.
Check out this video tour: Travis spent $21.8 million in November 2021 for a beachfront mansion in Coral Gables, Florida. According to what we know, Travis owns properties valued at about $40 million between the mansions in Miami and Bel Air.
The bird had a total market value of $70 million as of November 2022.
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