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Uber Leads $170 Million Investment in Lime Electric Scooters

Alphabet, Bain Capital, GV are also among the investors
Lime will acquire Uber’s Jump bike-share unit in the deal

Watch: Wayne Ting, Lime chief executive officer, discusses an investment round of $170 million by Uber Technologies Inc. in the scooter-rental company. (Source: Bloomberg)

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By Nate Lanxon, Katie Roof, and Joshua Brustein

May 7, 2020 at 12:48 PM UTC

Updated on

May 7, 2020 at 8:46 PM UTC

This article is for subscribers only.

Uber Technologies Inc. is leading an investment round of $170 million in scooter-rental company Lime, a lifeline for a startup reeling from plunging customer numbers and companywide layoffs.

Alphabet Inc., GV and Bain Capital Ventures, along with other new and existing stakeholders, also participated, Lime said in a statement on Thursday. As part of the deal, Lime will acquire Uber’s Jump bike-sharing business operations and the two companies will expand the integration of their mobile apps.