The investor frenzy for shared electric scooters is cooling, as two leading startups lower their fundraising ambitions while dealing with vandalism, rising competition and other growing pains.
One of the companies, Bird Rides Inc., is planning to take on more investment at its current $2 billion valuation, people familiar with the discussions said. The year-old startup previously had told potential investors it was seeking hundreds of millions of dollars at a substantially higher valuation, but it shelved those plans because...