Tier Mobility
- 🦄Became a unicorn2020
- 📈Peak valuation$2.2 Billion ’21
- 💔Became a Unitard2024
- 💸Last valuation~$154M
How it happened
Tier Mobility was Europe's best-funded e-scooter operator, backed by SoftBank and Mubadala, and reached a roughly €2B ($2.2B) valuation in 2021. As cheap capital vanished and scooter-sharing economics proved punishing, it cut staff repeatedly while hunting for profitability; in January 2024 it merged with rival Dott at a combined valuation of just ~€150M — a 93% collapse from its peak — and kept operating under the Dott brand. Glassdoor reviews from the 2022-24 downturn described the toll: employees counted three or four layoff rounds in little more than a year, some after leadership had promised the cuts were finished, alongside below-market pay and frozen raises.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: Sifted / TechCrunch / Dealroom (~€2B/$2.2B valuation 2021 backed by SoftBank and Mubadala; Jan 2024 merger with Dott at a combined ~€150M valuation, a 93% drop; €60M equity round; rebranded Dott)