Lime has revealed that it has actually raised a $170 million financing round. Uber is the leading investor with existing investors Alphabet, Bain Capital Ventures, GV and others also participating.
As part of the offer, Lime is likewise acquiring Uber’s micromobility subsidiary Jump. There will be more integrations in between Uber and Jump in the future, but both apps will stay active for now. It’s still unclear whether you’re going to have the ability to unlock Lime electric scooters in the Uber app, and Jump scooters and electrical bikes in the Lime app.
” We’re pleased that our consumers will continue to have access to bikes and scooters in both our apps because we believe micro-mobility is a critical part of the city landscape, now more than ever,” Uber CEO Dara Khosrowshahi stated in the press release.
The other day, Uber revealed a massive round of layoffs. Around 14%of the business have actually been laid off– it represents 3,700 employees. Cuts come primarily from community operations, hiring and Greenlight centers, the business’s in-person aid centers for chauffeurs. Uber Consumes is also taking out of 7 markets around the world.
Uber is attempting to cut costs as use has been plummeting due to the COVID-19 pandemic and lockdowns around the world. With today’s deal, the company is also going to save on operating expense as Jump employees shift from Uber to Lime.
On April 30, Lime likewise laid off 13%of its workforce, representing about 80 employees.
According to The Details’s report, Lime’s assessment is down 79%to $510 million with this round. In April 2019, Lime raised at a $2.4 billion assessment.
In other news, Lime has a new chief executive officer– Wayne Ting is getting a promo as he signed up with Lime in October 2018 as Worldwide Head of Operations and Technique.
Last year, Lime co-founder Toby Sun stepped down from the CEO role.
Uber’s stock is presently trading up 6.61%compared to yesterday’s closing rate during pre-market trading.
TechCrunch.
