Uber-backed (UBER) scooter darling Lime is about to go public, and it’s already wheeling in Wall Street. According to Reuters, the micromobility startup has hired Goldman Sachs and JPMorgan to lead a U.S. IPO, targeting a listing as early as 2025.
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The move is a litmus test: Can scooters scale into serious market movers, or will investors slam the brakes on the last-mile dream?
Going Public means Going Big
So what does it actually mean when a company “files for IPO”? Simple: it’s going from private to public. For Lime, this means opening its books, pitching its story to investors, and selling shares on a stock exchange — all in the hopes of raising capital and gaining credibility.
This isn’t Lime’s first flirtation with a listing. But the environment’s shifted. Tech IPOs are slowly clawing back in 2025, with volume already up 45% year-over-year. That doesn’t make it easy money—today’s investors are more skeptical, sensitive to valuations, and quicker to bail when the growth story slips.
Lime Courts Wall Street with a Promise of Profitable Rides
Unlike flameouts like Bird, Lime has one thing on its side: it’s not bleeding. According to the report, the company posted positive free cash flow for two straight years, with 2024 revenue hitting $686 million — up 32%.
That’s the language the Street understands. It says Lime isn’t just a flashy app with bikes. It’s a real business.
The company now operates in 280 cities across nearly 30 countries. Its business depends on local contracts, fleet maintenance, and regulatory goodwill, a complex patchwork that can both boost scale and expose fragility.
Lime Leans on Uber Ties while Racing to Justify Its Price Tag
Back in 2020, Uber poured money into Lime at a $510 million valuation. Fast-forward to today, and Lime wants to beat that number, badly.
An IPO could help Uber mark up that investment. But it also creates tension — Uber is a backer and a potential rival. If Lime breaks out, it becomes the poster child of profitable micromobility. If it stumbles, expect headlines about another tech dud in a helmet.
Investors Size Up the First Big Micromobility Test on Wall Street
Behind the handlebars, Lime’s IPO is really a test of how much risk Wall Street is ready to ride with again. When a hardware-heavy, infrastructure-dependent, regulation-sensitive company like Lime gets a shot at the public market, it tells us the window is reopening, but selectively.
If Lime can show growth and discipline, it could draw serious capital. That puts pressure on other late-stage startups sitting on the sidelines waiting for their moment.
A successful listing would validate Lime’s operating model — app + hardware + local contracts. That opens doors for similar players in transit, delivery, even EV infrastructure.
But if it flops? The micromobility sector takes another hit, and the IPO window could slam shut for a year.
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