Uber-backed Lime made a strong debut on Nasdaq, with shares jumping 8% in its initial public offering. According to reports from Reuters, the e-scooter and bike rental company was valued at approximately $1.73 billion following the successful market debut. The company's shares opened at $27, compared with the IPO price of $25 per share, demonstrating robust investor confidence in the micromobility sector.
As reported by Reuters, Lime raised $167 million in its U.S. IPO, selling approximately 7 million shares in the offering. The company and existing stockholders participated in the public offering, with the pricing reflecting strong investor demand despite the company's loss-making status. IPOX Research Associate Lukas Muehlbauer noted that while pricing at the midpoint and opening above issue suggests sufficient investor demand, the reception appeared measured rather than euphoric.
According to Reuters, Lime, founded in 2017 and based in San Francisco, provides short-term rentals of electric bikes and scooters in more than 230 cities worldwide. The company operates in an industry where shared e-bikes and scooters have gained popularity among commuters in densely populated cities due to their affordability and convenience for short trips. The company's business model benefits significantly from its partnership with Uber, where the ride-hailing app offers Lime's scooters as a transport option. Lime operates in an industry grappling with high operating costs and regulatory hurdles, with Uber's backing providing a significant revenue stream.
As reported by Reuters, Lime has yet to turn a net profit, posting a net loss of $59.3 million on revenue of $886.7 million for 2025. The company's valuation has experienced significant volatility, dropping from $2.4 billion in 2019 to about $510 million in 2020 during the pandemic-induced industry downturn. The company first floated ambitions to go public in 2021 and is among the few major micromobility companies to survive an industry shakeout that followed the pandemic. Former rivals such as Bird filed for bankruptcy protection, while operators including Tier and Dott merged to cut costs and gain scale.
According to Reuters, Lime's debut comes as new issuers enjoy renewed investor interest after volatility triggered by the war in Iran prompted some companies to take a wait-and-see approach. The U.S. IPO market has gathered pace in 2026, with high-profile offerings including SpaceX's record-breaking $75 billion IPO drawing investors back to new listings. However, analysts note that Lime needs to prove it can grow through different seasons and market cycles without simply adding more vehicles and capital expenditure to maintain momentum.
