Uber-Backed Lime Eyes $1.66 Billion Valuation in US Nasdaq IPO
Micro-mobility giant Lime is gearing up to tap into the rebounding US IPO market, seeking a valuation of up to $1.66 billion. As investor appetite for new listings strengthens, the electric bike and scooter operator aims to leverage its global footprint to fuel its next phase of growth.
Details of the Lime IPO Offering
Lime has officially filed to list on the Nasdaq under the ticker symbol "LIME," supported by heavyweights such as Goldman Sachs, J.P. Morgan, and Jefferies. The company and certain selling shareholders intend to offer approximately 6.96 million shares in total.
The shares are expected to be priced between $24 and $26 each, with the company aiming to raise up to $181.9 million through the offering. Notably, Uber—which led a significant funding round for Lime in 2020—has expressed interest in the IPO, with plans to purchase shares worth up to $20 million.
Financial Performance and Global Footprint
Founded in 2017 and led by former Uber executive Wayne Ting, Lime has rapidly expanded its presence. As of December 31, 2025, the company operated across 29 countries and approximately 230 cities.
While the company has shown significant scale, its financial journey reflects the capital-intensive nature of the micro-mobility sector. Lime reported a revenue of $886.7 million for 2025, though it incurred a net loss of $59.3 million during the same period. In fact, the company's prospectus reveals that it has recorded net losses in every year since its inception. Despite these losses, analysts note that the company is considered "cash-generative" with rapid revenue growth over the last three years.
Risks and Market Outlook
The Lime IPO serves as a critical litmus test for investor demand within the micro-mobility industry, which is characterized by high operational costs and significant regulatory complexity. While the company's large-scale global operations provide a cushion, several headwinds remain.
Industry experts, including Lukas Muehlbauer of IPOX Research, suggest that the stock might still trade at a discount upon listing. The business model is inherently seasonal and asset-heavy, making it sensitive to fluctuations in demand. Furthermore, Lime faces constant "city-level permit risk," where local regulatory changes can abruptly impact operations in key markets.
As the IPO market recovers from recent volatility, Lime’s ability to navigate these regulatory and seasonal hurdles will determine its long-term success on the public markets.
Key Takeaways
- Valuation and Scale: Lime is seeking a valuation of up to $1.66 billion, operating in 230 cities across 29 countries.
- Funding Goals: The company aims to raise up to $181.9 million by selling 6.96 million shares priced between $24 and $26.
- Financial Reality: Despite generating $886.7 million in revenue in 2025, Lime reported a net loss of $59.3 million, highlighting the high costs of the micro-mobility sector.