One of the main reasons for air pollution is due to the gas emitted by the fuel running vehicles. Scientists are being aware about the negative effects and are addressing them by the invention of electric vehicles. Electric vehicles are run by electricity and do not emit harmful gases.
Lime is one of the company build to promote the usage of affordable electric scooters. Co-founders of Lime scooter Toby Sun and Brad Bao focused on improving transportation and making the planet a healthier cleaner place.
Lime is serving 50 communities from South Florida to Seattle, Washington. We can even access Lime in Europe in cities like Frankfurt, Germany and Zurich, Switzerland.
Recently in a successful funding round, $335 million was funded by various companies such as GV (formerly Google Ventures), Uber, Alphabet, IVP, Atomico and Fidelity. With the investment of $335 million, the company is now valued at $1.1 billion.
Uber is planning on teaming up with Lime Scooters to make it accessible to even more users. Lime’s CEO Toby Sun said that Uber participated as a minority in the funding round but has big plans on partnering.
Lime’s scooter will be available on Uber’s app. The users can easily access the lime scooter from their Uber app on their smartphones. Uber is also planning to put its logo on some Lime scooters but has not disclosed the number and the locations it will be used on.
According to the Vice President and head of new modalities Rachel Holt,” the investment is another step towards our vision of becoming a one-stop shop for all your transportation needs.”
With this new addition in Uber app, the users are tempted to try this new service without the hassle of signing up again. This might be a competitive advantage for Lime against their competitors.
This feature can be unlocked in Uber app with payments of $1 including 30 minutes of ride. And the cost of riding these scooters is around 15 cents per minute.
In an interview Sun mentioned that among the meetings held with various transportation platform, Uber was the most sensible one.”They were the best possible partners in terms of the vision, the passion about mobility in general in that they want to build a modern platform, and the global footprint is another thing.” Said Sun.
In an interview with The Street, Sun said that,” We’ll be working with Uber and potentially with Google to offer complementary services. We do see mobility as something bigger than what we can serve nowadays.”
In 2017, Lime reported that 60% of first-time Lime Bike riders rented from Lime again, which tells that the users are satisfied with the service and are using it again.
Started in June 2017, Lime said it was now operating in more than 70 markets in the United States and Europe. With the help of Uber, Lime will be able to expand into 100 markets quickly by the end of the year.