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Korean micromobility startup Gbike may buy up the competition before its 2025 IPO

While micromobility companies around the globe have been in limbo and hitting snags like bankruptcy, shutdown and layoffs, a Seoul-based shared e-scooters

Korean micromobility startup Gbike may buy up the competition before its 2025 IPO

While micromobility companies around the globe have been in limbo and hitting snags like bankruptcy, shutdown and layoffs, a Seoul-based shared e-scooters and e-bikes operator called Gbike is gearing up to go public on the Korean stock market and is reviewing acquisition targets. In an exclusive interview with TechCrunch, Walter Yoon, CEO and founder of Gbike, said the startup is currently in talks for acquisitions in the micromobility industry to increase its market share before its planned initial public offering, aiming for early 2025. The startup recently closed its Series C, around $9.1 million, equivalent to 11.9 billion KRW, in the form of a convertible note, which brings its total raised to $21 million since its inception in 2017.

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