Uber-backed Lime seeks up to $1.66 billion valuation in US IPO

Uber-backed Lime, the electric bike and scooter network operator, is seeking a valuation of up to $1.66 billion in its U.S. IPO, looking to capitalize on improving investor appetite for new listings.

Lime and some selling shareholders are looking to sell about 6.96 million shares in total, priced between $24 and $26 apiece, aiming to raise up to $181.9 million. Uber, which led a funding round for Lime in 2020, has indicated an interest in buying shares worth up to $20 million in the offering.

"The valuation does not look excessive, because Lime is already large, global, and cash-generative, with decent financials as revenue has grown quickly over the past three years," said IPOX Research Associate Lukas Muehlbauer. He added the stock may still trade at a discount, "because the business is seasonal, regulated, asset-heavy, and exposed to city-level permit risk."

The firm has incurred net losses in every year since its inception. For 2025, it posted a net loss of $59.3 million on revenue of $886.7 million. Founded in 2017 and helmed by former Uber executive Wayne Ting, Lime operated in about 230 cities across 29 countries as of December 31, 2025.

The company, which filed for its public offering last month, has applied to list on the Nasdaq under the ticker symbol "LIME." Goldman SachsDealroom has a profile for this one. Try Dealroom →, J.P. Morgan and Jefferies are among the underwriters for the offering.

Read more: Reuters