The Lime IPO has a price and an anchor investor: Uber, the ride-hailing giant that already owns a chunk of the scooter firm and is now backing its market debut.
Lime is going public, and an old backer is helping carry it across the line: Uber.
The scooter and bike-rental firm, formally Neutron Holdings, has set the terms for its float. It is seeking to raise up to $180.9mn by selling 6.7 million shares at $24 to $26 each. Existing holders, including chief executive Wayne Ting and co-founder Brad Bao, will sell a further 276,731 shares.
At the top of that range, Lime would be worth about $1.7bn. The Information reported that the company is targeting a valuation closer to $1.8bn, and a raise nearer $200mn, on a road show this week.
The shares will trade on the Nasdaq under the ticker LIME. Goldman Sachs and JPMorgan are leading the offering, which Lime first filed for last month.
Uber's fingerprints are everywhere
The headline backer is Uber. An updated prospectus will name it as an anchor investor, putting in what The Information called a “meaningful” amount.
The two firms already overlap heavily. Uber owns more than 10 per cent of Lime and guarantees some of its debt. Around 14 per cent of Lime's revenue flows through the Uber app.
The tie goes right to the top. Ting is a former chief of staff to Uber boss Dara Khosrowshahi.
The survivor of the e-bike cull
Lime is going public as one of the last venture-backed names standing in micromobility. The category spent two years burying its darlings.
VanMoof collapsed in 2023 after raising more than €200mn. Rad Power, once valued at $1.65bn, filed for bankruptcy in late 2025.
The survivors split into two camps. Bootstrapped Lectric thrived without venture money, while Lime leaned on deep-pocketed backers and lived to reach the public markets.
“Lime was founded on a simple but radical idea: people and cities deserve a future where transportation is shared, affordable and carbon-free,” Ting wrote to prospective investors.
Growth, but still in the red
The pitch rests on growth. Revenue climbed to $886.7mn in 2025, up from $686.6mn a year earlier, and first-quarter revenue rose 32 per cent.
Lime counted 3.8 million monthly active users last year, more than 20 per cent up on 2024. Its green bikes and scooters now sit in over 230 cities, from Sacramento to Sofia to Sydney.
Profit is another matter. Lime's net loss widened to $59.3mn in 2025, from $33.9mn the year before.
The valuation has been a rollercoaster too. Lime was worth $2.4bn in 2019, then just $510mn in a 2020 round that Uber led. A successful float would mark a long climb back.
Lime first weighed an IPO back in 2021. It then waited out a brutal stretch for the whole sector.
A test for smaller listings
Consider the timing. Lime is floating a modest sum just as the record-breaking SpaceX debut dominates the IPO conversation.
Smaller tech offerings have struggled to win attention next to the giants. The Lime IPO will test whether investors still have appetite for a hardware-heavy, low-margin business built on shared scooters.
For Lime, the bet is that scale and an Uber-shaped safety net are enough. For everyone else, it is a read on how open the IPO window really is.