Lime begins life as a public company after years of uncertainty



Micromobility company Lime has raised $167 million in its IPO, ending an almost decade-long run as a private company that saw wild valuation swings as it navigated multiple major hype cycles and a global pandemic. The nine-year-old scooter and bike company, which is backed by Uber, sold 6.68 million shares at $25 each, at the mid-point of its $24 to $26 price range. Shares started trading on the Nasdaq stock exchange under the ticker “LIME” on Wednesday afternoon, jumping around 9% in the first hour. The long-awaited IPO pegs Lime’s valuation at around $1.66 billion, just shy of the price fellow micromobility company Bird got when it merged with a special purpose acquisition company in 2021. “Having that resilience and patience and belief and optimism that we will get through the toughest moments [has] really paid dividends over the long run, because there were many days, weeks, months, where I wasn’t sure if Lime was going to make it past the next three months, four months,” CEO Wayne Ting told TechCrunch in an interview Wednesday. “To be here today as a public company feels incredibly rewarding, and it took a lot of, a lot of heart, sweat, and tears to get to this point.” Lime has been considering an IPO for years. In 2021, following a $523 million funding round, CEO Wayne Ting told TechCrunch the company was eyeing an IPO in 2022. He re-heated the idea in 2023, saying that Lime was still waiting for the right market conditions. Ultimately, though, Ting said he only wanted to go public when he could prove to the market that Lime was a far more durable company that one like Bird. “We felt like we needed to demonstrate we were going to be a self-sustaining, profitable, free cash flow positive business, and that only happened over the last three years, [where] we had three years of free cash flow positive results,” he said. “I think the timing is right, because the business is strong. We still have a lot of growth ahead of us.” Lime needs the funds. In its IPO filing in May, the company expressed “substantial doubt” that it could continue as a going concern. Lime said it needs the IPO proceeds to help resolve around $1 billion in liabilities, more than half of which is due by the end of this year, though some of that debt is convertible. Without an IPO, Lime told prospective investors, it would need to find other sources of financing. Lime is riding that financial edge because the micromobility industry has proven to be fairly brutal over the last few years, even in the good times. Bird had to file for bankruptcy protection and restructure after it went public, and other competitors have either merged (Tier and Dott), been delisted from major exchanges (Micromobility.com), or gone out of business entirely (Superpedestrian). Amid the chaos, Lime has managed to improve its revenue over the last few years. It generated $521 million in 2023, $686.6 million in 2024, and $886.7 million last year. The company also trimmed its losses from $122.3 million in 2023, to just $33.9 million in 2024, though that figure edged back up in 2025 to $59.3 million. (The company reported adjusted gross profit in 2025 of more than $400 million, when discounting costs like depreciation.) That growth has come largely from Lime’s ability to scale globally. It now operates in 230 cities across 29 countries. But the company is also somewhat dependent on Uber, which owns 24% of Lime, and accounted for more than 14% of its revenue last year. (Uber allows people to book Lime rides through its app in some cities.) Ting said Lime’s focus on driving down unit costs, plus its ability to use software and machine learning to manage city-by-city operations are what helped lime create a more financially sustainable business. And he said he only expects those advantages to improve now that Lime has access to the public markets. “It’s more capital for us to invest in growth and expanding Lime, in investing back into our technology. I feel like a lot of the a

From the moment it was announced in late 2024, Christopher Nolan’s ambitious adaptation of Homer’s Odyssey has been a source of intense debate for the world’s keyboard warriors.The higher-level disputes concern questions of how to translate the ancient Greek epic to the screen and the relative importance of accurate period detail. The ugly gutter fights are about the film’s diverse casting and its supposedly “woke” slant on the source material.But whatever they imagine the film to be, the internet’s clout-chasers and tastemakers won’t be the ones to offer first impressions from actual screenings. In a sign of apparent confidence reported by The Hollywood Reporter on Thursday, Universal Studios has opted to skip the previews it typically holds for influencers. These screenings, common throughout the industry, tend to generate effusive praise on social media and fan blogs that can soften the blow of mixed or negative reviews from professional critics.While it should be noted that any number of TikTok and YouTube content creators will still get to see the film ahead of its release along with the press, the decision to not directly court their buzz has proved widely popular—not least with the film critics themselves, many of whom plan to attend Odyssey screenings after its July 7 global premiere in London.Scott Mantz, a cofounder of the Hollywood Critics Association, wasn’t one to undersell his approval of the move. “GOOD!!” he wrote in a post reacting to the news on X. “Because EVERYONE knows those so-called ‘influencer’ social media reactions are TOTAL BULLSHIT.”Other writers were a bit more tongue-in-cheek, if seemingly pleased as well; IndieWire chief film critic David Ehrlich joked on X that “this is what Homer would have wanted.” Some wondered if the snub could be the sign of a developing trend. “Good on Universal!” wrote Kristen Lopez, editor-in-chief of the independent newsletter The Film Maven, on X. “Interesting to see if other studios follow suit (though I’d lean towards no).”Tim Grierson, senior US critic for Screen International, tells WIRED that skipping the influencer showings is a “great” idea. “Actual film critics have gotten used to how the studios try to diminish whatever importance we have by often letting influencers be the first people to sound off on a film,” he says. “It's just another way in which Hollywood tries to instill the idea that some new piece-of-crap blockbuster is really ‘for the fans, not the critics.’”Instead, Universal is betting on the old-fashioned publicity cycle. “Essentially, the studio is declaring that it doesn't need influencers—who tend to be very gushy and uncritical—to bolster the film's initial word-of-mouth,” Grierson says. At the same time, he notes, “it was also a canny move on Nolan's part, because now whoever does get invited to a press screening—including influencers, who will see it at the same time as the rest of us—will feel like, ‘Oh wow, Christopher Nolan values me as a smart, professional critic!’”“Whether or not that's intentional, it's certainly not the worst way to endear yourself to the people responsible for evaluating your movie,” says Grierson, who expects to review the movie himself. (And who knows, maybe critics who feel their work is receiving the respect it deserves are slightly more inclined to write favorably of a film.)While a handful of aggrieved anti-woke crusaders claim that elevating the response of establishment critics over hot takes from internet personalities indicates a fear that The Odyssey is in for major right-wing backlash, there’s no reason to suspect that anyone at Universal is sweating right now. The film is on track for a massive opening of $80 million to $100 million, and movie theater apps and websites were instantly overloaded when tickets went on sale earlier this month. It shattered the record for most seats sold in a 24-hour period at BFI IMAX, which features the largest screen in the UK, and showings in premium IMAX and 70 mm forma
Plex has come a long way from being just a personal media server. Over the past few years, it has transformed into a streaming hub, today featuring ad-supported content and movie rental options. Now, the company is setting its sights on competing with social networking platforms like Reddit and Letterboxd: on Wednesday, Plex unveiled several social features aimed at changing how users interact with the platform. Notable among these is Discussions, a community forum where users can post comments and talk about movies or TV shows. Plex is likely hoping this forum will create a dedicated space that challenges Reddit’s dominance when it comes to community discussions of movies and shows. The company said it’s worked up a moderation system that uses a blend of AI and human input to moderate both visual and written content. Image Credits:Plex Another new feature is Lists, which lets users create, manage and share lists of their favorite movies and shows, react with emojis instead of simple star ratings, and share images. Later this year, Plex will add the ability to import existing lists from other platforms, and let users react and comment on their friends’ lists. Letterboxd and IMDb both offer user-generated lists. Additionally, Plex is adding a new Match Score feature that predicts how much a user might enjoy a particular title based on their viewing habits and preferences. “It looks at the things you watch and the way you rate them, and turns that into a simple percentage that tells you how closely a title lines up with what you tend to enjoy,” co-founder and chief product officer Scott Olechowski told TechCrunch. “The idea is to take the guesswork out of discovery, so instead of scrolling endlessly, you get a quick, personal read on whether something is likely to be for you.” The platform is also adding Alerts that will notify users about new activities related to lists, movies, shows and film professionals they follow. Lists are currently available to all Plex users, and Discussions is set to launch this month. Other features will be rolled out throughout the year. The new features aim to create a more community-driven content discovery experience, allowing users to share recommendations, compare opinions and connect over their favorite shows and films. “People are spending more time figuring out what to watch than ever before, and we’re seeing viewers are increasingly turning to friends, creators, and communities they trust for recommendations. Discovery has become a shared experience, and we think the products people use to find entertainment should reflect that,” Olechowski added. The new features come as Plex is grappling with an increasingly competitive entertainment landscape where streaming companies and social media platforms together vie for people’s attention. Netflix and Disney+ have even launched short-form video content within their apps in a bid to farm daily engagement. This isn’t Plex’s first foray into social networking. In 2023, the company launched “Discover Together,” which allowed users to create profiles and follow friends’ viewing activities. Last year, Plex rolled out public profiles and reviews for users. However, it’s important to note that this update also coincides with a significant price hike for Plex’s Lifetime Plex Pass, which will cost $749.99 from July 1. The staggering increase certainly caught the attention of users, especially since Plex just last year increased the Pass’ price from $119.99 to $249.99. Currently, Plex boasts over 42 million active users monthly across more than 180 countries and territories. When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence. Lauren covers media, streaming, apps and platforms at TechCrunch. You can contact or verify outreach from Lauren by emailing laurenf.techcrunch@gmail.com or via encrypted message at laurenforris22.25 on Signal. View Bio
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