Micromobility giant Lime goes public: $167 million raised via IPO

Lime, one of the world's leading electric scooter and bike rental companies, has completed its long-awaited IPO. After nine years of operation, the company successfully listed its shares on the Nasdaq exchange, raising $167 million from investors. This step is a significant turning point not only for the company but for the entire micromobility market, reports Techcrunch.com. reports .

According to ixbt.com, the Uber-backed company sold 6.68 million shares at $25 each. This price is the midpoint of the previously set $24-26 range, indicating stable investor confidence in the company. Trading under the ticker "LIME" is expected to begin on Wednesday.

Lime had been planning to go public for several years. Following a $523 million investment in 2021, CEO Wayne Ting announced intentions to hold an IPO in 2022. However, due to market conditions and economic shifts, the process was delayed several times. The current IPO values the company at approximately $1.66 billion.

Financial obligations and market pressure

These investments are timely for Lime, as the company has been under significant financial pressure. In reports filed in May, the company acknowledged doubts about its ability to continue operations. Lime currently holds nearly $1 billion in debt, more than half of which must be repaid by the end of this year. Proceeds from the IPO will be used to cover these obligations.

The micromobility sector has been characterized by fierce competition and financial difficulties in recent years. For example, Bird, one of Lime's main competitors, was forced to file for bankruptcy after going public. Other companies have had to merge (like Tier and Dott) or exit the market entirely. In such conditions, Lime's survival and continued growth are highly regarded by industry experts.

The company's financial performance has shown positive trends in recent years. Lime generated $521 million in revenue in 2023, $686.6 million in 2024, and $886.7 million last year. Losses have also decreased significantly: the $122.3 million loss in 2023 narrowed to $33.9 million in 2024, although it rose slightly to $59.3 million in 2025.

Global expansion and partnership with Uber

One of the key factors in Lime's success is its global expansion. Today, the company offers its services in 230 cities across 29 countries. This could be an interesting experience for developing markets like Uzbekistan, as scooter rentals have become increasingly popular in the capital, Tashkent, in recent years.

It is also worth noting that Lime's operations are heavily dependent on the Uber platform. Uber owns 24% of Lime's shares, and last year, more than 14% of Lime's revenue was generated through orders placed via the Uber app. This partnership remains the most important channel for Lime to attract new users.