Uber-backed Lime rides IPO wave to $1.73 billion valuation in Nasdaq debut
Uber-backed Lime’s shares jumped 8% in its Nasdaq debut on Wednesday, signaling robust investor confidence in the e-scooter and bike operator’s business model and valuing the company at about $1.73 billion.
Lime, founded in 2017, is based in San Francisco, California, and provides short-term rentals of electric bikes and scooters in more than 230 cities worldwide.
Shared e-bikes and scooters have gained popularity among commuters in densely populated cities, where their affordability and convenience have made them popular options for short trips.
