Lime Raises $167M in IPO After Years of Teasing a Public Debut
Micromobility company Lime completed its long-awaited initial public offering, raising $167 million. Shares began trading on the Nasdaq and jumped about 9% in the first hour.
Micromobility company Lime has raised $167 million in its initial public offering (IPO), ending years of speculation about a public debut. The nine-year-old scooter and bike rental company, backed by Uber, sold 6.68 million shares at $25 each — the midpoint of its $24 to $26 price range. Shares started trading on the Nasdaq stock exchange under the ticker “LIME” on Wednesday afternoon and rose roughly 9% within the first hour.
Lime had been considering an IPO for years. In 2021, following a $523 million funding round, CEO Wayne Ting told TechCrunch the company was eyeing an IPO in 2022. He revisited the idea in 2023, saying Lime was still waiting for the right market conditions. The IPO values Lime at around $1.66 billion, just shy of the valuation fellow micromobility company Bird achieved when it merged with a SPAC in 2021.
The company needed the funds. In its IPO filing in May, Lime expressed “substantial doubt” about its ability to continue as a going concern, citing about $1 billion in liabilities, more than half due by the end of this year. Without the IPO, Lime told prospective investors, it would need to find alternative financing.
The micromobility industry has been brutal in recent years. Bird filed for bankruptcy protection and restructured after going public. Competitors have merged (Tier and Dott), been delisted from major exchanges (Micromobility.com), or gone out of business (Superpedestrian). Amid the turmoil, Lime has grown revenue: $521 million in 2023, $686.6 million in 2024, and $886.7 million last year. It also narrowed losses from $122.3 million in 2023 to $33.9 million in 2024, though losses widened again to $59.3 million in 2025.
Growth has been driven largely by global expansion; Lime now operates in 230 cities across 29 countries. However, the company remains somewhat dependent on Uber, which owns 24% of Lime and accounted for more than 14% of its revenue last year by allowing users to book Lime rides through the Uber app in some cities.
