Bird Secures $450 Million Debt for Shareholder Payouts Amid AI Repositioning

On Sept. 23, 2026, Bird CEO Robert Vis announced $450 million in debt and Agentic Harness so AI agents can message, call, email and get eSIM plans. J.P. Morgan led a $400 million term loan and $50 million revolver with Capital One, Citi, Silicon Valley Bank, MUFG, Flagstar and Huntington. The financing is a dividend recapitalization: debt raised to pay existing shareholders, including current and former employees, rather than fund the company, keeping Bird private. Vis said it "provides liquidity to our shareholders, including current and former employee shareholders, while keeping Bird private and independent." Bird reported $165 million 2025 EBITDA—operating profit before interest, tax and non-cash charges—after automation cut headcount from over 1,000 to about 120. "We didn't automate to cut headcount, we did it to become more productive, and the headcount came down as a result," Vis said. "Half the apps on your phone rely on our infrastructure, and yet we're running this business at a fraction of the size we used to be." Some channels cost 90% less than competitors. J.P. Morgan's Shikha Goyal-Allain backed Bird's lean model as agentic AI grows. Founded in 2011 as MessageBird and once valued at $3 billion, Bird is expanding in the U.S. CONTESTED: none found.