Tier-owned Spin exits 10 US markets amid low demand, unfavorable city regulations

Micromobility operator Spin is leaving 10 U.S. markets due to a combination of low demand, over-regulation, under-regulation and poor cost structures, according to a company-wide email sent Friday by Philip Reinckens, Spin’s CEO, that was shared with TechCrunch.
Reinckens said the market exits would help Spin cut costs and focus on growing markets that provide “the best financial outlook for the company in 2023.” Reinckens took over as CEO from Ben Bear in May, a couple of months after Berlin-based Tier bought Spin from Ford and officially entered the U.S. market.
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