Lime Finally Goes Public

After years of considering an initial public offering, micromobility company Lime has raised $167 million in its IPO, with shares expected to start trading on the Nasdaq stock exchange under the ticker 'LIME' on Wednesday.

The company sold 6.68 million shares at $25 each, at the mid-point of its $24 to $26 price range. This valuation puts Lime at around $1.66 billion, just shy of the price fellow micromobility company Bird got when it merged with a special purpose acquisition company in 2021.

A Much-Needed Funding Boost

Lime needs the funds from the IPO to pay off around $1 billion in liabilities, more than half of which is due by the end of this year. Without the IPO, Lime would have had to find other sources of financing, which could have been challenging given the current state of the micromobility industry.

• The company has been improving its revenue over the last few years, generating $521 million in 2023, $686.6 million in 2024, and $886.7 million last year.
• Lime has also trimmed its losses, from $122.3 million in 2023 to $33.9 million in 2024, although that figure edged back up to $59.3 million in 2025.
• The company operates in 230 cities across 29 countries and is somewhat dependent on Uber, which owns 24% of Lime and accounted for more than 14% of its revenue last year.

The micromobility industry has proven to be fairly brutal over the last few years, even in the good times. Bird had to file for bankruptcy protection and restructure after it went public, and other competitors have either merged, been delisted from major exchanges, or gone out of business entirely.

Looking Ahead

Lime's IPO is a significant milestone for the company, and it will be interesting to see how it performs in the public market. With the funds from the IPO, Lime should be able to pay off its liabilities and continue operating, but it will still face challenges in the competitive micromobility industry.