PREVIEW

Uber-Backed Lime Debuts on Nasdaq at $1.7 Billion Valuation. Uber-backed Lime gained four percent in its Nasdaq debut, giving the electric scooter and bike company a valuation near one-point-seven billion dollars. The company operates shared electric bikes and scooters across more than two hundred thirty cities, benefiting from growing demand for affordable urban transportation. Lime raised about one hundred seventy-four million dollars through its public offering, with shares opening above their twenty-five-dollar initial offering price. Chief Executive Wayne Ting said future growth will come from expanding existing markets while entering new cities, including a Mexico City pilot. Despite surviving industry challenges and pandemic disruptions, Lime still reported a net loss despite generating nearly eight hundred eighty-seven million dollars revenue. Investors remain optimistic that growing micromobility demand and Lime's partnership with Uber can support long-term expansion despite regulatory and operating challenges.
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