Lime is making another run at the public markets, testing whether investors are ready to back a micromobility business that has spent years balancing rapid growth with persistent losses.

The electric bike and scooter rental company, Lime, is seeking to raise up to USD 180.9 million through a US initial public offering. The company plans to sell 6.7 million shares at a price range of USD 24 to USD 26 per share, while existing shareholders will sell an additional 276,731 shares.

At the top end of the range, Lime would be valued at approximately USD 1.7 billion.

Why You Should Care

Lime’s IPO arrives at a time when public investors are becoming more selective about which growth companies deserve capital. The company is attempting to prove that shared electric transportation can become a scalable urban mobility business rather than a venture-backed experiment.

The filing also marks a significant milestone for a company that experienced one of the sharpest valuation swings during the previous startup cycle. Lime was valued at USD 2.4 billion in 2019 before falling to USD 510 million in 2020 during a funding round led by Uber. Now, it is targeting a valuation more than three times higher than that pandemic-era low.

The Details

Founded around the idea of replacing short car trips with shared electric vehicles, Lime now operates across more than 230 cities worldwide, offering customers access to electric bikes and scooters through its mobile platform.

The company generated revenue of USD 886.7 million in 2025, up from USD 686.6 million a year earlier. Monthly active users reached 3.8 million, representing growth of more than 20% year over year.

Despite that expansion, profitability remains elusive. Lime reported a net loss of $59.3 million in 2025, compared with a loss of USD 33.9 million in the previous year. The widening loss highlights the challenge many mobility companies continue to face as they scale operations across multiple markets.

Lime’s largest shareholder backing includes Uber, which led the company’s 2020 financing round alongside investors such as Google Ventures and Bain Capital Ventures. The IPO will also allow a small number of insiders, including CEO Wayne Ting, President Joseph Kraus, and co-founder Brad Bao, to sell portions of their holdings.

The Ripple 

Lime’s public market debut could serve as a broader test for transportation technology companies that rely on physical infrastructure rather than purely digital business models.

For venture investors, a successful listing would provide evidence that mobility startups can eventually access public capital markets despite years of skepticism around profitability. For cities, it may reinforce the growing role of shared electric transportation as part of urban mobility networks.

The IPO also arrives as cities worldwide continue investing in bike lanes, low-emission zones, and alternative transportation systems designed to reduce congestion and emissions. Companies positioned within those trends may benefit from stronger institutional interest if Lime’s offering is well received.

What to Watch

The most important number may not be Lime’s valuation but how investors respond to its combination of strong revenue growth and ongoing losses.

The offering will provide a fresh signal on whether public markets are prepared to reward businesses that are demonstrating growing demand and expanding user bases, even before achieving consistent profitability. It will also offer insight into how investors view the long-term economics of shared urban mobility as cities continue shifting toward lower-carbon transportation networks.