Lime, formerly known as LimeBike, is a transportation-rental company that runs bicycle-, scooter-, and car-sharing systems in various cities around the world.
Lime helps people move around their cities in an affordable and convenient way while eliminating their carbon footprint.
Lime was founded in January 2017 by Toby Sun & Brad Bao and is based in San Francisco, California.
Lime aims to provide a sustainable solution to the first and last mile transportation problem by helping people move around their cities in an affordable and convenient way while eliminating their carbon footprint.
Lime offer dockless vehicles which users find and unlock via a mobile app which knows the location of available units via GPS and radio. Lime's charges typically start at $1 or €1 for a 30-minute ride on unpowered bicycles, while electric bicycles and scooters cost $1 to unlock plus a variable rate per minute depending on location.
Lime is revolutionizing micro mobility and empowering a new urban lifestyle. The mobile app lets riders easily find and unlock our fleet of shared smart bikes and scooters, providing them with a fun, efficient and sustainable way to move around the city.
Lime uses green-colored commuter bikes equipped with GPS units and 3G connectivity. The bicycles also have a front basket, a solar panel, and a smart lock. A mobile app is used to locate nearby bicycles and scan a QR code to unlock bicycles, which play a short chime.
Lime is backed by investors including Andreessen Horowitz, GV, Bain Capital Ventures, Uber, IVP (Institutional Venture Partners) and others. $170M in a new round of funding on May 07, 2020, brining the total funding raised by Lime to 935M to date. The latest round reportedly valued the company at $500M which is 79% down from its previous $2.4B valuation in February 2019.