Uber recently announced its investment in Lime, one of the two leading dockless scooter and bike rental companies, as part of a $335M round led by Google's venture-capital arm.
Lime is the largest domestic startup in this space, with vehicles in 70+ markets and over 35,000 scooters, bicycles, and e-bikes deployed nationally.
As part of the deal, Uber will let users rent Lime scooters directly in the Uber app and co-brand all of Lime’s vehicles with the Uber logo. Details are scarce on how the Lime branding will change, but we’re guessing Lime scooters will each get Uber stickers.
Uber's investment into Lime could be a precursor to an acquisition: last year, Uber announced a partnership with SF-based bike-sharing startup JUMP before acquiring them for $200M.
Lime wouldn't be as cheap. Lime and Bird (their largest competitor in the space) have collectively raised $700M in capital from Sequoia Capital, a16z, Upfront Ventures, and others. Bird is now valued at $2B; Lime's valuation of $1.1B pushes it into unicorn territory.
Uber's plan to become the Amazon of transportation
Uber is lining up to take on the entire transportation industry, with options for every type of trip available in app:
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