BREAKINGVIEWS-Lime's scooter-rental IPO includes an uphill ride

Uber Technologies,Inc.

Uber Technologies,Inc.

UBER

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Sebastian Pellejero

NEW YORK, June 30 (Reuters Breakingviews) - The electric-two-wheeler company is targeting $180 mln and a $1.8 bln valuation. At 17 times 2025 free cash flow, new investors would be paying up for boss Wayne Ting to pedal even harder. Growing the fleet while squeezing out more per vehicle leaves little room to downshift.

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CONTEXT NEWS

Lime, an electric-bike and scooter rental company backed by Uber Technologies, is seeking to raise as much as $181 million in an initial public offering at a valuation of up to $1.8 billion, according to an amended prospectus submitted to securities regulators on June 22.


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