[US Stock IPO] Shared electric bike "Survivor" Lime applies for listing, challenging Bird's bankruptcy shadow

Electric bicycle and electric scooter sharing platform Lime files for its initial public offering (IPO) in the United States, planning to list on Nasdaq under the ticker symbol LIME. Lime is invested in by Uber (US: UBER), and former Uber executive Wayne Ting has been appointed CEO.

Lime’s revenue in 2025 is projected to grow 29.1% year-over-year to $886.7 million, marking the third consecutive year of positive free cash flow. However, the company has yet to turn a profit, with a net loss of $59.3 million in 2025, widening from $33.9 million in 2024.

By the end of 2025, Lime’s operations cover approximately 230 cities across 29 countries, offering short-term electric bike and scooter rentals. The company states that proceeds from the IPO will be used for operations, debt repayment, and investments or acquisitions of complementary technologies, assets, or intellectual property.

IPO Market Rebound: Profitability Focus

Some IPO market research firms believe Lime’s application reflects an improved sentiment in the U.S. IPO market and indicates that the company’s fundamentals are more mature than in the past; recent new stock performances have been better, helping to reopen the IPO window. However, the market will still focus on whether Lime can turn revenue growth into more stable profits.

Lime’s listing is also seen as an important test for the shared micro-mobility industry. The industry initially relied on subsidies and rapid expansion to capture city markets, but many operators later faced costs related to fleet maintenance, depreciation, city permits, and parking management, raising questions about profitability models. Lime is now seeking to attract the U.S. stock market with revenue growth and positive free cash flow, with market attention on whether the company can shed the past image of burning cash for expansion.

The shared micro-mobility industry has faced regulatory, operational cost, and profitability challenges over the years, with some competitors performing poorly. Electric scooter operator Bird previously filed for bankruptcy protection. Lime’s IPO will test investor confidence in electric bike and scooter sharing platforms.

Goldman Sachs, JPMorgan Chase, and Jefferies are the underwriters for this IPO.

		Finance Hot Talk
	





	Warren Buffett criticizes stock market as a casino, holding cash to new highs; does the Oracle reveal the best entry point?