1 hour ago
1
Image Credits:Lime9:05 AM PDT · July 1, 2026
Micromobility institution Lime has raised $167 cardinal successful its IPO.
The nine-year-old scooter and motorcycle company, which is backed by Uber, sold 6.68 cardinal shares astatine $25 each, astatine the mid-point of its $24 to $26 terms range. Those shares are expected to commencement trading connected the Nasdaq banal speech nether the ticker “LIME” connected Wednesday.
Lime has been considering an IPO for years. In 2021, pursuing a $523 cardinal backing round, CEO Wayne Ting told TechCrunch the institution was eyeing an IPO successful 2022. He re-heated the thought successful 2023, saying that Lime was inactive waiting for the right marketplace conditions.
The long-awaited IPO pegs Lime’s valuation astatine astir $1.66 billion, conscionable shy of the terms chap micromobility institution Bird got when it merged with a peculiar intent acquisition company successful 2021.
Lime needs the funds. In its IPO filing successful May, the institution expressed “substantial doubt” that it could proceed arsenic a going concern. Lime said it needs the IPO proceeds to wage astir $1 cardinal successful liabilities, much than fractional of which is owed by the extremity of this year. Without an IPO, Lime told prospective investors, it would request to find different sources of financing.
Lime is riding that fiscal borderline due to the fact that the micromobility manufacture has proven to beryllium reasonably brutal implicit the past fewer years, adjacent successful the bully times. Bird had to record for bankruptcy extortion and restructure aft it went public, and different competitors person either merged (Tier and Dott), been delisted from large exchanges (Micromobility.com) oregon gone retired of concern wholly (Superpedestrian).
Amid the chaos, Lime has managed to amended its gross implicit the past fewer years. It generated $521 cardinal successful 2023, $686.6 cardinal successful 2024, and $886.7 cardinal past year. The institution besides trimmed its losses from $122.3 cardinal successful 2023, to conscionable $33.9 cardinal successful 2024, though that fig edged backmost up successful 2025 to $59.3 million.
That maturation has travel mostly from Lime’s quality to standard globally. It present operates successful 230 cities crossed 29 countries. But the institution is besides somewhat babelike connected Uber, which owns 24% of Lime, and accounted for much than 14% of its gross past year. (Uber allows radical to publication Lime rides done its app successful immoderate cities.)
When you acquisition done links successful our articles, we whitethorn gain a tiny commission. This doesn’t impact our editorial independence.
Sean O’Kane is simply a newsman who has spent a decennary covering the rapidly-evolving concern and exertion of the proscription industry, including Tesla and the galore startups chasing Elon Musk. Most recently, helium was a newsman astatine Bloomberg News wherever helium helped interruption stories astir immoderate of the astir notorious EV SPAC flops. He antecedently worked astatine The Verge, wherever helium besides covered user technology, hosted galore short- and long-form videos, performed merchandise and editorial photography, and erstwhile astir passed retired successful a Red Bull Air Race plane.
You tin interaction oregon verify outreach from Sean by emailing sean.okane@techcrunch.com oregon via encrypted connection astatine okane.01 connected Signal.
English (US) ·