Lime, an electric scooter and bike-sharing service, raised $174 million in its initial public offering (IPO).
The company's shares were listed at $25 a share. The shares opened at $27 on the Nasdaq Global Select Market and closed at $26. This gave Lime a market value of about $1.66 billion.
Lime sold 6.68 million shares during the IPO. In addition, CEO Wayne Ting, President Joseph Kraus, co-founder Brad Bao and other shareholders sold a total of 276,731 shares.
Uber's stake in Lime is expected to drop from 24% to 22% after the IPO. It is worth noting that 14.5% of Lime's 2025 revenue will come from partnerships with Uber.
According to the company's financial indicators, revenues in 2025 increased by 29.1% to $ 886.7 million. However, net loss increased to $ 59.3 million from $ 33.9 million in the previous year.
Lime also announced that it has achieved positive free cash flow for the third consecutive year.
The company plans to direct the proceeds from the IPO to finance operating activities, pay down all its debt and make possible acquisitions. The financial statements also noted that significant credit obligations will come due in the next 12 months.
Recall that Uber has integrated Lime scooters and bicycles into its application since 2018 and is currently both a distribution partner and a shareholder of the company.
According to the information, during the IPO, investor demand exceeded the number of shares offered for sale by about 6 times. However, the electric scooter rental sector still faces regulatory risks and a negative backdrop created by the failures of companies like Bird, which once operated in the market.
