Uber Technologies (UBER) Backed Electric Bike Startup Prepares for IPO

Uber Technologies, Inc. (NYSE:UBER) is one of the 11 Unstoppable Tech Stocks to Invest inOn June 24, Reuters reported an Uber Technologies, Inc. (NYSE:UBER) backed electric bike and scooter network startup called Lime has hired investment banks to prepare for an IPO in the United States.

Lime is a San Francisco-based startup, according to the sources of Reuters, it has hired Goldman Sachs and JPMorgan Chase to help with its IPO. The company is anticipated to launch next year and could value the firm higher than its Uber Technologies, Inc. (NYSE:UBER) led funding round in 2020. The source added that reports at that time valued the company at about $510 million.

Uber Technologies (UBER) Backed Electric Bike Startup Prepares for IPO

The company was founded in 2017 and is now led by Uber Technologies, Inc. (NYSE:UBER)’s former executive Wayne Ting. It provides short-term rentals of electric bikes and scooters in more than 280 cities in nearly 30 countries.

Uber Technologies, Inc. (NYSE:UBER) is a technology company that operates a ride-hailing platform working in three main areas including Mobility, Delivery, and Freight.

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