Lime files for IPO, Uber-backed firm eyes Nasdaq

Lime, the electric scooter and bike rental company backed by Uber, has officially filed for an initial public offering on the Nasdaq under the ticker "LIME." The company, which has been preparing for this move for years, reported significant revenue growth, reaching $886.7 million last year, while narrowing its net losses to $59.3 million. Lime has demonstrated positive free cash flow for the past three years, indicating improving financial health. Its strategic partnership with Uber, which contributes about 14.3% of its revenue, has been a key factor in its expansion into 230 cities across 29 countries.