Uber-Backed Lime Raises $174Mn In Its IPO

Catenaa, Wednesday, July 01, 2026- The operator of Uber-backed Lime Electric scooters gained 8% after the company raised $174 million in its IPO.

Shares of Neutron Holdings, the San Francisco-based firm backed by Uber Technologies, opened at $27 each, above the IPO price of $25. 

The company sold 6.68 million shares in the offering, with Chief Executive Officer Wayne Ting, President Joseph Kraus, and co-founder Brad Bao and other holders divesting 276,731 shares.

The trading gives Lime a market value of $1.73 billion. Back in 2020, a year before Lime first floated IPO plans, an Uber-led funding round valued the firm at $510 million.

“The Uber relationship is very important to us,” Ting said in an interview. “My expectation is that they’ll remain a sizable part of the business and a driver of future growth.”

In 2025, 14.5% of Lime’s revenue came through its Uber partnership, with the remainder generated directly on the Lime app. 

was expected to control 22% of outstanding shares after the IPO, down from 24% before the offering, according to its filings.

Other shareholders include an affiliate of Abu Dhabi investment firm Judan, Fidelity and Andreessen Horowitz.

Demand for the IPO is about six times greater than the shares available, per people familiar with the matter, with allocations highly concentrated among mutual funds putting in anchor-sized orders. 

The 10 largest investors in the offering took more than 75% of the shares, according to the people.

The offering was led by Goldman Sachs and JPMorgan Chase. Shares trade on the Nasdaq Global Select Market under the ticker LIME.

Through Lime, customers can borrow electric bikes and scooters across more than 230 cities. Their bicycles came to the rescue during last fall’s London tube strike, when rides jumped 58% as commuters sought alternate transportation to work. 

Lime’s e-scooters have been available in London for about three years, according to the company’s website.

Lime is currently focused on growing within markets where it already has a presence and expanding to new cities.

“I grew up in Lincoln, Nebraska, and I would’ve never expected Lime to work in Lincoln, Nebraska, but we have a great business there,” Ting said. “There are many Lincolns, Nebraskas in this world that still don’t have micromobility. So that’s another opportunity.”