Lime, a California-based e-bike rental company backed by Uber, raised $167 million in its U.S. initial public offering. The company, formally known as Neutron Holdings, sold 6.68 million shares at $25 per share, the midpoint of its marketed range of $24 to $26 per share.
“I would say it’s the right moment because we have been building this business and the last three years we’ve been free cash flow positive, [and] we continue to grow our top line, very healthy 29% top line growth in 2025,” Lime CEO Wayne Ting said to Yahoo Finance.
“Now that we are at financial sustainability to tap the public markets to further accelerate growth, and I do think the macro IPO market improving is a good tailwind as well,” Ting added.
READ: Uber caps employee AI spending after annual budget is exhausted in four months (June 3, 2026)
Lime, which was founded in 2017 provides short-term rentals of electric bikes and scooters in over 230 cities worldwide. Demands for its services have risen since commuters in densely popular urban areas, where people increasingly rely on e-bikes and scooters for short trips due to their lower cost and convenience.
Previously, Uber led Lime’s 2020 funding round and has indicated it may purchase up to $20 million in shares as part of the offering. A significant portion of Lime’s revenue comes from its partnership with Uber, whose ride-hailing app allows users to rent Lime scooters as a transportation option.
Lime said its scooter-based mobility-as-a-service business is sustainable.
READ: Uber taps Balaji Krishnamurthy as CFO amid aggressive robotaxi expansion (February 5, 2026)
“So we, on average, pay back the bikes and scooters we put out on the streets in less than one year. These vehicles last five years plus, and so in the course of the full lifetime, we get return on invested capital between 4 to 5x initial investment, and I think that’s a very consistent, reliable return,” Ting said.
Lime was valued at $2.4 billion in 2019 before a sharp downturn was triggered by the pandemic. This drove its valuation down to about $510 million in 2020, according to media reports at the time.
Lime is expected to debut on the Nasdaq exchange under the ticker symbol “LIME” on Wednesday. Goldman Sachs, JPMorgan and Jefferies are among the underwriters for the offering. Uber is acting as an anchor investor for the IPO, agreeing to purchase up to $20 million of stock at the offering price.