Maksim Labkouski
- Helbiz (NASDAQ:HLBZ) has entered an agreement and plan of merger with Wheels Labs.
- Wheels CEO Marco McCottry, who had prior stints at leading micro-mobility players Bird, Ofo and Uber will lead Helbiz’s North American micro-mobility business.
- The merger will bring Helbiz into the large Los Angeles market through Wheels’ impressive presence there.
- The decision expects Wheels to bring to Helbiz a diversified business model which combines dockless rental licenses in cities, direct partnerships with universities or businesses and month-to-month rentals for individuals.
- The merger is expected to close in November 2022.
- The combined company will offer a new patented vehicle, expand United States presence, deepen technology sharing, add a long term personal rentals business and potentially double Helbiz’s annual revenue.
- Shares are up 31.2% on Tuesday.