Big news for the broader micro-mobility industry as two industry powerhouses, TIER and Dott, have announced their decision to unite forces. This merger marks a significant milestone towards addressing the industry’s long-discussed need for consolidation.
The journey towards profitability became a pivotal focus for every micro-mobility provider in 2023, with TIER navigating similar terrain. In a strategic response, the company underwent a reevaluation, implementing rigorous decisions and streamlining operations, resulting in substantial progress towards achieving profitability.
Building upon this momentum, 2024 is earmarked for accelerating efforts towards profitability, and market consolidation stands as a linchpin in this pursuit. This consolidation aims to unlock new markets, harness economies of scale, and expand the portfolio of vehicles offered.
Lawrence Leuschner, Co-Founder and CEO of TIER, indicated that the collaboration with Dott signifies a strategic alignment in terms of shared values and objectives, market dominance and collaborative synergy.
Both entities share a core commitment to delivering reliable and responsible services for users and cities while placing sustainability at the forefront of their operations. Combined, the union of TIER and Dott solidifies their position as the revenue leader across the majority of European markets, reinforcing their competitive edge.
Leuschner also said that working closely with the Dott team has allowed for the co-creation of a shared vision for 2024 and beyond, fostering a collaborative environment that capitalizes on each team’s strengths.
“This announcement is a change for TIER but also for me! I will be stepping away from the day-to-day management of the company, transitioning from CEO to Chairman of the Board in the coming weeks,” added.
Reflecting on a remarkable five-year journey, the departing CEO acknowledged the transformative growth from being a market contender in 2018 to assuming the mantle of Market Leader in 2023/24. The unpredictable voyage encompassed rapid app development, market conquests, hardware engineering, strategic city partnerships, feature innovations, and operational management amid the challenges posed by a global pandemic.
Expressing gratitude, the departing CEO credited its incredible team and co-founders for their unwavering support and guidance in propelling TIER to its current prominence. Despite lacking prior mobility experience, the collaborative effort has been instrumental in the company’s success, underscoring the collective learning experience.
“I will be handing the CEO baton to Henri Moissinac! Henri is an incredible leader who brings a wealth of experience – not only building his own business – online bazaar – which he later sold to eBay, but also building the mobile platform for Facebook and, of course, navigating micro-mobility with Dott. I have immense confidence not only in Henri, but in the broader joint leadership team and the strategic direction we have set,” commented Leuschner.
As TIER and Dott embark on this new journey, we will stay put to see what comes for the European micro-mobility landscape.
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- Source: https://www.eu-startups.com/2024/01/e-scooter-startups-tier-and-dott-merge-to-pave-the-way-for-a-dominant-force-in-european-micro-mobility/
