Lime, the Uber-backed electric bike and scooter startup, has hired investment banks as it gears up for a long-anticipated initial public offering in the United States, according to people familiar with the matter.
The San Francisco-based company is laying the groundwork for a potential public listing next year, said three sources, with one noting that Goldman Sachs and JPMorgan Chase have been brought on to assist with the IPO process.
The public debut could value Lime significantly above its last known valuation from 2020, when Uber led a funding round. At that time, the company was valued at roughly $510 million, according to reports.
All sources requested anonymity due to the confidential nature of the discussions.
Lime, along with Goldman Sachs and JPMorgan, declined to comment.
Founded in 2017 and currently led by former Uber executive Wayne Ting, Lime offers short-term rentals of electric scooters and bikes across more than 280 cities in nearly 30 countries, according to the company’s website.
After years of flirting with the public markets, Lime’s latest IPO push comes as the broader listing environment begins to show signs of life following more than two years of sluggish activity.
Earlier this month, stablecoin issuer Circle Internet raised over $1 billion through its IPO, with shares surging on their debut in New York.
So far in 2025, U.S. IPOs have raised close to $27 billion — a jump of nearly 45% from the same period last year, though still well below the record $177 billion raised during the same stretch in 2021, according to Dealogic data.
A public listing for Lime would serve as a litmus test for investor confidence in both the recovering IPO market and in tech startups, which have faced growing skepticism amid financial challenges.
The micromobility space, where Lime operates, has seen several setbacks in recent years, with many companies grappling with regulatory pressures and steep operating costs. Some, like rival e-scooter operator Bird, have filed for bankruptcy.
In February, Lime reported net revenue growth of 32% to $686 million for 2024 and said it had achieved positive free cash flow for the second year in a row.
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