Uber-backed Lime files for IPO ahead of SpaceX listing

Electric mobility company Lime has reported strong revenue growth in its filing for a U.S. initial public offering, signaling renewed momentum in the public markets for transportation and tech startups.

Backed by ride-hailing giant Uber Technologies Inc., Lime operates an electric bike and scooter rental network across major global cities. In its IPO filing, the company revealed that its annual revenue rose significantly in 2025, although it did not disclose the valuation or offering size, News.Az reports, citing Reuters.

According to the filing, Lime generated $886.7 million in revenue in 2025, marking a 29.1% increase compared to the previous year. The company also reported positive free cash flow for the third consecutive year, a key signal of improving financial stability in a sector that has historically struggled with profitability.

Founded in 2017 and now led by former Uber executive Wayne Ting, Lime operates in roughly 230 cities across 29 countries, positioning itself as one of the largest players in the global micromobility market.

The company plans to use IPO proceeds to support operations and reduce debt as it prepares for its public market debut. It intends to list on the Nasdaq under the ticker “LIME,” with major investment banks including Goldman Sachs, JPMorgan, and Jefferies acting as underwriters.

The filing comes amid a broader recovery in U.S. initial public offerings, as investor appetite returns after earlier market volatility. Several sectors—including artificial intelligence infrastructure, biotechnology, and defense technology—have recently moved toward public listings.

However, the micromobility industry remains highly competitive and financially challenging. While companies like Lime continue to scale, others in the sector have struggled with regulatory constraints and high operational costs, with some competitors exiting the market in recent years.

The IPO marks a key test for investor confidence in shared urban mobility services, as Lime seeks to demonstrate that large-scale electric scooter and bike networks can deliver sustainable long-term profitability.

News.Az 

By Aysel Mammadzada