Micromobility company Lime is seeking to raise to $181 million in a US IPO, targeting a $1.7 billion valuation as investors assess the future of shared urban mobility.
According to its filing, Lime plans to offer 6.7 million shares priced between USD 24 and USD 26 each. Existing shareholders will sell an additional 276,731 shares as part of the transaction. At the upper end of the proposed range, the company would be valued at approximately USD 1.7 billion.
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The IPO comes as public market investors remain selective about growth-focused technology companies, particularly those that have yet to achieve sustained profitability. For Lime, the listing represents an opportunity to demonstrate that shared electric transportation can evolve into a scalable and commercially viable urban mobility business.
Founded to reduce reliance on short-distance car journeys, Lime operates a network of shared electric bikes and scooters across more than 230 cities worldwide. Users access the vehicles through the company’s mobile platform, which has become one of the largest micromobility networks globally.
The company reported revenue of USD 886.7 million in 2025, representing a significant increase from USD 686.6 million the previous year. Monthly active users rose to 3.8 million, reflecting year-on-year growth of more than 20%.
Despite strong revenue growth, profitability remains a challenge. Lime recorded a net loss of USD 59.3 million in 2025, compared with a loss of USD 33.9 million in 2024. The widening loss highlights the operational and infrastructure costs associated with scaling shared mobility services across multiple cities and markets.
The IPO also marks a notable turnaround for the company. Lime was valued at approximately USD 2.4 billion in 2019 before its valuation dropped to around USD 510 million during a 2020 funding round led by Uber. The latest offering seeks a valuation more than three times higher than that pandemic-era low.
Lime’s shareholder base includes several prominent investors. Ride-hailing giant Uber remains one of its largest backers following its investment in 2020, alongside firms such as Google Ventures and Bain Capital Ventures. The offering will also allow a limited number of insiders, including CEO Wayne Ting, President Joseph Kraus, and co-founder Brad Bao, to sell portions of their holdings.
The listing is expected to serve as an important test of investor appetite for transportation technology companies that operate physical infrastructure networks rather than purely digital platforms. A successful IPO could provide a benchmark for other mobility startups seeking access to public capital markets.
The offering also comes as cities around the world continue investing in sustainable transportation infrastructure, including dedicated bike lanes, low-emission zones, and alternative mobility networks. These trends have supported growing adoption of electric bikes and scooters as part of broader urban transportation systems.
Investor response to the IPO will likely depend on whether Lime’s strong revenue growth and expanding user base can offset concerns about ongoing losses. The outcome could offer valuable insight into how public markets view the long-term economics of shared mobility and the role micromobility platforms may play in the future of urban transportation.
Why Lime Matters to MENA
The planned IPO of Lime offers an important signal for mobility and transportation startups across MENA. As cities in the Gulf accelerate investments in smart mobility, sustainability, and low-carbon transport infrastructure, investor appetite for companies operating shared mobility networks will be closely watched.
The listing could also influence how regional investors assess mobility-focused startups, particularly those balancing rapid growth with profitability challenges. A successful debut may strengthen confidence in micromobility,
