Lime Just Valued at $2 Billion

gigabYte

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Dec 7, 2018
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Despite the fact that none of these companies have shown a path to profitability and the numbers we do have show there is almost no path to profitability for them, Lime was just valued at $2 billion during a new round of fundraising.

One interesting and kind of unexpected bit of news from recode though, says that:

"The heat around scooter-sharing companies has cooled considerably in recent months: Lime’s primary competitor, Bird, has similarly scaled back some of its fundraising hopes and is raising money at a flat share price. "

Maybe these investors are starting to come to their senses. One other big thing not going in these companies' favor is the fact that so many companies have entered the space. It used to be, in the days of Amazon, Google, Uber - that when a company had a nifty idea they'd get a several-year headstart before any competitors popped up. I think Uber got two or three years before Lyft came along. But these scooter companies all popped up at just about the same time. Apparently it's a very easy niche to get into. Meaning anybody with a few million dollars lying around can get into it. When everybody and their brother can jump in - it's not a great recipe for a successful business.