Uber is teaming up with scooter startup Lime
After investing in part of their $355 million round 🛴
Posted on July 9, 2018 4:53 PM.
BloombergEric Newcomer and Brad Stone
Electric scooter rental company Lime is teaming up with Uber to bring an unconventional mode of transportation to the world.
Similar to how Uber's partnership with Jump brought shared bikes, the partnership with Lime will allow users to rent scooters, directly from the app.
BloombergEric Newcomer and Brad Stone
While details of the partnership are still being finalized, Uber plans to promote Lime in its mobile application and slap its logo on the scooters, executives from the two companies said.
In addition, Uber is investing in Lime as part of their $355 million round led by Alphabet's GV (formerly Google Ventures).
With the rise of scooters taking cities by storm, cities like San Francisco are requiring companies to apply for permits. Both Uber and Lime applied with their own proposals.
The move comes after Uber's new CEO, Dara Khosrowshahi, revealed Uber's plan to expand as a horizontal transportation solution, meaning instead of owning Uber-branding bikes, scooters, cars, and buses, they'll be a platform that can connect riders to a variety of options.
BloombergEric Newcomer and Brad Stone
Lime said it was most impressed by Uber’s strategy and its global heft. “Not many ride-share programs are global,” said Chief Executive Officer Toby Sun. Lime is developing “Uber-type market share and Lyft-type reputation,” Sun said. “In this kind of market, they go together.”

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