Lime raises $167M in IPO after years of teasing a public debut
Micromobility company Lime has raised $167 million in its IPO.
The nine-year-old scooter and bike company, which is backed by Uber, sold 6.68 million shares at $25 each, at the mid-point of its $24 to $26 price range. Those shares are expected to start trading on the Nasdaq stock exchange under the ticker “LIME” on Wednesday.
Lime has been considering an IPO for years. In 2021, following a $523 million funding round, CEO Wayne Ting told TechCrunch the company was eyeing an IPO in 2022. He re-heated the idea in 2023, saying that Lime was still waiting for the right market conditions.
The long-awaited IPO pegs Lime’s valuation at around $1.66 billion, just shy of the price fellow micromobility company Bird got when it merged with a special purpose acquisition company in 2021.
Lime needs the funds. In its IPO filing in May, the company expressed “substantial doubt”...
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