via TechCrunch
Lime raises $167M in IPO after years of teasing a public debut
Micromobility company Lime has raised $167 million in its long-awaited initial public offering, crossing a milestone it had teased for years. The nine-year-old scooter and bike company, backed by Uber, sold 6.68 million shares at $25 each—the midpoint of its $24 to $26 price range. The shares are expected to begin trading on the Nasdaq under the ticker “LIME” on Wednesday.
Lime had been eyeing an IPO since at least 2021, when CEO Wayne Ting told TechCrunch the company was targeting a 2022 debut following a $523 million funding round. He revived the idea in 2023, saying Lime was waiting for the right market conditions. The IPO values the company at roughly $1.66 billion—just below the valuation fellow micromobility firm Bird achieved when it merged with a special purpose acquisition company in 2021.
The capital comes at a critical time. In its IPO filing in May, Lime expressed “substantial doubt” about its ability to continue as a going concern, stating it needed the IPO proceeds to cover about $1 billion in liabilities—more than half of which are due by the end of this year. Without the offering, Lime warned prospective investors, it would need to secure alternative financing.
Lime’s financial tightrope reflects the broader struggles of the micromobility industry, which has proven brutal even during good times. Bird filed for bankruptcy protection and restructured after going public. Other competitors have merged (Tier and Dott), been delisted from major exchanges (Micromobility.com), or gone out of business entirely (Superpedestrian).
Amid the chaos, Lime has steadily grown revenue: $521 million in 2023, $686.6 million in 2024, and $886.7 million in 2025. The company also trimmed its net loss from $122.3 million in 2023 to $33.9 million in 2024, though losses crept back up to $59.3 million in 2025.
Growth has largely come from Lime’s global expansion. It 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. Uber allows users to book Lime rides through its app in select cities.
As of 2026, Lime’s successful public listing marks a pivotal moment for the micromobility sector, offering a potential blueprint for surviving an industry known for high capital demands and thin margins.