Uber-backed electric bike firm lime seeks $180.9 million in IPO

By Jordan Fitzgerald, Bloomberg

Lime, the electric bike and scooter rental firm backed by Uber Technologies Inc., and it shareholders are seeking to raise as much as $180.9 million in its US initial public offering.

The company, formally known as Neutron Holdings Inc., is offering 6.7 million million shares for $24 to $26 each, according to a filing on Monday with the US Securities and Exchange Commission. Selling shareholders plan to sell a further 276,731 shares. The stockholders selling shares include chief executive officer Wayne Ting, president Joseph Kraus and co-founder Brad Bao.

At the top of that range, Lime would have a market value of $1.7 billion, based on the outstanding shares in its filing.

Through Lime, customers can check out short-term electric bike and scooter rentals. Its distinctive green mobility devices can be found in more than 230 cities from Sacramento to Sofia to Sydney. Londoners rushed to Lime’s e-bikes and e-scooters during last year’s Tube strike.

“Lime was founded on a simple but radical idea: people and cities deserve a future where transportation is shared, affordable and carbon-free,” Chief Executive Officer Wayne Ting said in a letter to prospective investors in the filing.

The San Francisco-based micromobility firm was previously valued at $510 million in 2020, when Uber led an investment round with participation from Alphabet Inc.’s Google Ventures and Bain Capital Ventures. The figure marked a steep fall-off from a 2019 funding round that valued the firm at $2.4 billion. Lime first considered IPO plans back in 2021.

The company saw a net loss of $59.3 million on revenue of $886.7 million in 2025, compared to a net loss of $33.9 million on $686.6 million of revenue a year earlier, according to the filing. Lime saw 3.8 million monthly active users in 2025, which marked more than 20% of growth year-over-year.

Goldman Sachs Group Inc. and JPMorgan Chase & Co. are leading the IPO. The company expects the shares to trade on the Nasdaq Global Select Market under the ticker LIME.

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