Uber Technologies (UBER) Backed Electric Bike Startup Prepares for IPO
Uber Technologies, Inc. (NYSE:UBER) is one of the . On 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.
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.
While we acknowledge the potential of UBER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.
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