Lime, the electric scooter and bike rental company backed by Uber, successfully priced its initial public offering on Nasdaq at $25 per share, the midpoint of its marketed range, raising $167 million. The company sold 6.68 million shares and is set to trade under the ticker LIME. This IPO valuation places Lime between approximately $1.66 billion and $1.8 billion, a significant recovery from its $510 million valuation in 2020 but still below its $2.4 billion peak in 2019.
Uber's role as a major investor is crucial, holding over 10% of Lime and committing to purchase up to $20 million in additional shares. This deeper integration with Uber's platform, which began in 2020, has provided Lime with a vital distribution channel, linking its services directly to Uber's large user base and contributing a significant portion of its revenue. This partnership lends credibility to Lime in the micromobility sector, where many companies have struggled.
Despite the successful IPO, profitability remains a key concern for investors. While Lime's revenue grew by almost 30% to $886.7 million in 2025, from $686.6 million in 2024, its net loss also widened to $59.3 million in 2025, up from $33.9 million the previous year. This indicates that while the company is scaling revenue, it continues to bleed cash. Analysts note that the market is pricing Lime as a mature, high-revenue operator rather than a hypergrowth startup, consistent with its growth and profitability profile.
The listing marks a significant turning point for Lime, which faced a valuation crash during the pandemic. CEO Wayne Ting has framed the offering as a commitment to shared, affordable, and carbon-free transportation. The company now faces the challenge of demonstrating that increased ridership can lead to consistent profits, navigating regulatory hurdles, and managing operational costs in various cities. Uber shares saw a 4.42% drop to $72.16 on Tuesday, the day of Lime's IPO.
