Latest news with #WayneTing
Yahoo
05-07-2025
- Business
- Yahoo
Lime's Long-Awaited IPO Is Finally on Track: Uber-Backed Scooter Startup Reports $686M Revenue and 'Cash Flow Positivity'
Lime, the electric bike and scooter rental startup backed by Uber (NYSE:UBER), has hired Goldman Sachs (NYSE:GS) and JPMorgan Chase (NYSE:JPM) to prepare for a U.S. initial public offering expected to launch next year, Reuters reports. Founded in 2017, Lime operates in more than 280 cities across nearly 30 countries, offering short-term rentals for electric bikes and scooters. According to Reuters, the San Francisco-based startup has been considering a public listing for several years, but the current uptick in IPO activity may provide a timely window to execute the move. Don't Miss: Maximize saving for your retirement and cut down on taxes: . Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. In February, Lime reported a 32% increase in net revenue, reaching $686 million for 2024. The company also confirmed that it was free cash flow positive for the second year in a row, a rare feat in the micromobility sector, which has historically struggled to stay afloat. Lime CEO Wayne Ting described 2024 as "an exceptional year" for the company, citing strong results across key financial and operational metrics, including record profits and expanded global reach. 'We grew profits faster than revenue in 2024, posting another record year of results through serving more than 24 million riders in hundreds of communities around the world and bringing Lime to more cities globally,' Ting said in a statement. 'While we saw record demand in 2024, we're just scratching the surface of micromobility's potential to transform cities and better connect people.' Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — According to Reuters, the potential IPO follows a broader rebound in the U.S. public listing market, which raised nearly $27 billion in 2024 so far, a 45% increase compared to the same period last year. Although the total still falls short of the 2021 record of $177 billion, companies like Circle Internet (NYSE:CRCL), which recently raised over $1 billion through an IPO, have signaled growing investor interest in growth-stage tech firms, Reuters says. Lime's IPO may test investor sentiment in the micromobility space, where competitors like Bird have filed for bankruptcy in recent years, Reuters reports. Unlike others in its category, Lime received prior investment from Uber and is among the few micromobility firms still pursuing public markets. Uber led a funding round for Lime in 2020, at which time the company was reportedly valued at $510 million. According to Reuters, sources familiar with the matter expect the upcoming IPO to value Lime significantly higher than its last reported valuation, although exact figures have not yet been sustainability remains a core focus for Lime as it scales globally. According to the company, Lime riders helped avoid an estimated 20,000 metric tons of CO₂ emissions in the last year by replacing car trips with shared electric vehicles. Lime estimates its service replaced over 43 million car trips in 2024 and prevented the consumption of roughly 2.2 million gallons of gasoline, equal to approximately 8.5 million liters. The company says it also continues to lower its own operational footprint. By offering electric scooters and bikes for trips under five miles, Lime says it aims to shift the way urban communities move while supporting city efforts to reduce traffic congestion and meet climate goals. Read Next: How do billionaires pay less in income tax than you?. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Lime's Long-Awaited IPO Is Finally on Track: Uber-Backed Scooter Startup Reports $686M Revenue and 'Cash Flow Positivity' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-07-2025
- Business
- Yahoo
Lime's Long-Awaited IPO Is Finally on Track: Uber-Backed Scooter Startup Reports $686M Revenue and 'Cash Flow Positivity'
Lime, the electric bike and scooter rental startup backed by Uber (NYSE:UBER), has hired Goldman Sachs (NYSE:GS) and JPMorgan Chase (NYSE:JPM) to prepare for a U.S. initial public offering expected to launch next year, Reuters reports. Founded in 2017, Lime operates in more than 280 cities across nearly 30 countries, offering short-term rentals for electric bikes and scooters. According to Reuters, the San Francisco-based startup has been considering a public listing for several years, but the current uptick in IPO activity may provide a timely window to execute the move. Don't Miss: Maximize saving for your retirement and cut down on taxes: . Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. In February, Lime reported a 32% increase in net revenue, reaching $686 million for 2024. The company also confirmed that it was free cash flow positive for the second year in a row, a rare feat in the micromobility sector, which has historically struggled to stay afloat. Lime CEO Wayne Ting described 2024 as "an exceptional year" for the company, citing strong results across key financial and operational metrics, including record profits and expanded global reach. 'We grew profits faster than revenue in 2024, posting another record year of results through serving more than 24 million riders in hundreds of communities around the world and bringing Lime to more cities globally,' Ting said in a statement. 'While we saw record demand in 2024, we're just scratching the surface of micromobility's potential to transform cities and better connect people.' Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — According to Reuters, the potential IPO follows a broader rebound in the U.S. public listing market, which raised nearly $27 billion in 2024 so far, a 45% increase compared to the same period last year. Although the total still falls short of the 2021 record of $177 billion, companies like Circle Internet (NYSE:CRCL), which recently raised over $1 billion through an IPO, have signaled growing investor interest in growth-stage tech firms, Reuters says. Lime's IPO may test investor sentiment in the micromobility space, where competitors like Bird have filed for bankruptcy in recent years, Reuters reports. Unlike others in its category, Lime received prior investment from Uber and is among the few micromobility firms still pursuing public markets. Uber led a funding round for Lime in 2020, at which time the company was reportedly valued at $510 million. According to Reuters, sources familiar with the matter expect the upcoming IPO to value Lime significantly higher than its last reported valuation, although exact figures have not yet been sustainability remains a core focus for Lime as it scales globally. According to the company, Lime riders helped avoid an estimated 20,000 metric tons of CO₂ emissions in the last year by replacing car trips with shared electric vehicles. Lime estimates its service replaced over 43 million car trips in 2024 and prevented the consumption of roughly 2.2 million gallons of gasoline, equal to approximately 8.5 million liters. The company says it also continues to lower its own operational footprint. By offering electric scooters and bikes for trips under five miles, Lime says it aims to shift the way urban communities move while supporting city efforts to reduce traffic congestion and meet climate goals. Read Next: How do billionaires pay less in income tax than you?. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Lime's Long-Awaited IPO Is Finally on Track: Uber-Backed Scooter Startup Reports $686M Revenue and 'Cash Flow Positivity' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-06-2025
- Business
- Yahoo
Uber Technologies (UBER) Backed Electric Bike Startup Prepares for IPO
Uber Technologies, Inc. (NYSE:UBER) is one of the . On June 24, Reuters reported an Uber Technologies, Inc. (NYSE:UBER) backed electric bike and scooter network startup called Lime has hired investment banks to prepare for an IPO in the United States. Lime is a San Francisco-based startup, according to the sources of Reuters, it has hired Goldman Sachs and JPMorgan Chase to help with its IPO. The company is anticipated to launch next year and could value the firm higher than its Uber Technologies, Inc. (NYSE:UBER) led funding round in 2020. The source added that reports at that time valued the company at about $510 million. The company was founded in 2017 and is now led by Uber Technologies, Inc. (NYSE:UBER)'s former executive Wayne Ting. It provides short-term rentals of electric bikes and scooters in more than 280 cities in nearly 30 countries. Uber Technologies, Inc. (NYSE:UBER) is a technology company that operates a ride-hailing platform working in three main areas including Mobility, Delivery, and Freight. While we acknowledge the potential of UBER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Sign in to access your portfolio
Yahoo
28-06-2025
- Business
- Yahoo
Uber Technologies (UBER) Backed Electric Bike Startup Prepares for IPO
Uber Technologies, Inc. (NYSE:UBER) is one of the . On June 24, Reuters reported an Uber Technologies, Inc. (NYSE:UBER) backed electric bike and scooter network startup called Lime has hired investment banks to prepare for an IPO in the United States. Lime is a San Francisco-based startup, according to the sources of Reuters, it has hired Goldman Sachs and JPMorgan Chase to help with its IPO. The company is anticipated to launch next year and could value the firm higher than its Uber Technologies, Inc. (NYSE:UBER) led funding round in 2020. The source added that reports at that time valued the company at about $510 million. The company was founded in 2017 and is now led by Uber Technologies, Inc. (NYSE:UBER)'s former executive Wayne Ting. It provides short-term rentals of electric bikes and scooters in more than 280 cities in nearly 30 countries. Uber Technologies, Inc. (NYSE:UBER) is a technology company that operates a ride-hailing platform working in three main areas including Mobility, Delivery, and Freight. While we acknowledge the potential of UBER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. 登入存取你的投資組合
Time Magazine
26-06-2025
- Business
- Time Magazine
TIME100 Most Influential Companies 2025: Lime
With 270,000 rentable e-bikes and e-scooters spread across 30 countries on five continents, the world's largest 'micromobility' company is proving that plenty of people are ready to avoid autos for city excursions under five miles. 'The things that make somebody in London want to use micromobility are also true in a place like Omaha, Nebraska,' CEO Wayne Ting says. In 2024, Lime saw its fourth straight year of 30%-plus growth (hitting $810 million in gross bookings) and reached record profitability. A partnership with investor Uber to allow bookings via that app didn't hurt. The company helped spark the micromobility trend through rapid expansion across the U.S. and Europe, when it first launched in 2017, and now even metropolises that don't have Lime have launched their own bike and scooter share services. Helping Paris become a 100% cyclable Olympics city in 2024, increasing its fleet there from 10,000 to 15,000, has prepared Lime to support other big events like the 2026 FIFA World Cup and the 2028 Los Angeles Olympics.
