E-scooter company Spin is suspending service in Sacramento.
Spin, owned by Ford Motor Company and is based in San Francisco, announced on January 7th, the company is restructuring into a "path to profitability, " according to CEO Ben Bear. Officials at Spin say they will provide refunds to customers, many of whom were students at Sacramento State. The University inked a deal with Spin in 2020 for 200 e-scooters students could rent to get around campus, one of the first California State University System schools to do so. "We've enjoyed serving your community and hope to be back in the future," Spin officials wrote in the email to riders.
The company will still provide e-scooters in "active markets" in the U.S. and other parts of the world. According to Ben Bear in an announcement, Spin employees were notified of the company exit, which impacts roughly a quarter of staff. They have been offered severance packages and additional stipends, according to the company.