Helbiz

Helbiz, founded in 2015 by Italian-American entrepreneur Salvatore Palella, emerged as a key player in the micro-mobility sector, aiming to solve the first- and last-mile transportation challenge in urban centers. Palella's entrepreneurial journey began after attending business school in Milan, where he founded a vending machine company before venturing into the world of professional soccer team ownership. His experience in consumer-facing businesses informed the creation of Helbiz, which he established in New York City.

The company's core business revolves around a fleet of shared electric vehicles, including e-scooters, e-bicycles, and e-mopeds, accessible through a mobile application. This app allows users to locate and unlock vehicles via a QR code for on-demand, short-distance trips. Revenue is generated from these rides, with the company also offering a subscription model, Helbiz Unlimited, for frequent users. Helbiz targets urban dwellers and commuters, operating in partnership with city governments across Europe and North America to secure licenses for its dockless rental services. Over the years, the company expanded its offerings, venturing into food delivery with Helbiz Kitchen and media streaming with Helbiz Media, which secured rights for sports leagues like Italy's Serie B.

A significant milestone in the company's history was its public listing on the Nasdaq stock market in August 2021 through a merger with GreenVision Acquisition Corp., a special purpose acquisition company (SPAC). This move made Helbiz the first publicly listed micro-mobility company. To fuel its growth, Helbiz made several strategic acquisitions, including MiMoto, an Italian electric moped sharing service, in 2020, and Skip, a U.S.-based scooter operator, though Skip later filed for bankruptcy. In late 2022, Helbiz announced a merger with Wheels Labs Inc., another micro-mobility provider with a unique sit-down scooter and strong ties to universities and business partners. This merger was intended to diversify Helbiz's business model, adding month-to-month rentals and direct B2B contracts to its portfolio. In March 2023, facing delisting pressures, Helbiz underwent a significant rebranding, changing its name to micromobility.com Inc. and executing a reverse stock split. This strategic shift also signaled an expansion into e-commerce and physical retail stores, aiming to sell micro-mobility vehicles and accessories directly to consumers.

Keywords: micromobility, electric scooter sharing, e-bike rental, moped sharing, urban transportation, last-mile solution, Salvatore Palella, public company, Nasdaq, SPAC, vehicle sharing, mobility as a service, smart mobility, sustainable transportation, e-commerce, urban mobility, Wheels Labs, MiMoto, Helbiz Live, fleet management