Uber-Backed Lime IPO Raises $167 Million on Nasdaq as Demand Hits Six Times Supply

TLDR

• Lime raised $167 million in its U.S. IPO, selling 6.68 million shares at $25 each
• Demand for the IPO was approximately six times the number of shares available
• The top 10 investors took more than 75% of the allocated shares
• Lime’s 2025 revenue grew nearly 30% to $886.7 million, but net losses widened to $59.3 million
• Uber has indicated interest in buying up to $20 million in shares and is a key revenue partner

Uber-backed Lime, the electric bike and scooter rental company, raised $167 million in its U.S. initial public offering on June 30, 2026. The company sold 6.68 million shares at $25 each, landing at the midpoint of its $24 to $26 marketed range. Trading is set to begin on the Nasdaq Global Select Market under the ticker “LIME.”

The IPO drew strong interest from institutional investors. Demand came in at roughly six times the number of shares available, according to Bloomberg. Allocations were heavily concentrated, with the 10 largest investors taking more than 75% of the shares on offer.

Lime was founded in 2017 and is based in San Francisco. The company operates short-term rentals of electric bikes and scooters across more than 230 cities worldwide. It was formerly known as Neutron Holdings.

Goldman Sachs, JPMorgan Chase, and Jefferies were among the banks underwriting the offering.

Revenue Rising, But Losses Widening

Lime’s revenue reached $886.7 million in 2025, up nearly 30% from $686.6 million the year before. However, the company’s net loss also grew, widening to $59.3 million from $33.9 million in the same period.

The company has not yet turned a profit. Its business faces high operating costs, local regulations across hundreds of cities, and the challenge of converting short, low-cost rides into sustainable margins.

Lime was valued at $2.4 billion in 2019, before the pandemic cut that figure to around $510 million in 2020. The $167 million IPO marks its return to public markets as investor appetite for new listings recovers.

Uber’s Role in Lime’s Business

Uber is closely tied to Lime’s business model. The ride-hailing company led a funding round for Lime in 2020 and has indicated it plans to buy up to $20 million in shares through the IPO.

A meaningful portion of Lime’s revenue comes directly from its partnership with Uber. Lime scooters are available as a transport option within the Uber app, giving the company wide distribution across its existing user base.

Uber shares fell 4.42% on Tuesday, closing at $72.16, the day before Lime’s IPO launched. Analysts covering Uber hold a Strong Buy consensus, with an average price target of $108.12, implying around 50% upside from that closing price.

The IPO comes as the broader market for new listings has regained momentum following a period of volatility tied to the Iran conflict. Several high-profile offerings have helped restore investor confidence in new public companies.

Lime’s debut on Nasdaq is one of the more watched listings of the current IPO cycle, given its ties to urban mobility trends and its partnership with one of the world’s largest ride-hailing platforms.

Whether the company can close the gap between its revenue growth and its ongoing losses will be the central question for investors watching its first days of trading.

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