Scooter and bike-rental startup Lime is expanding to dozens more cities this year, its CEO said, leveraging the hundreds of millions of dollars in funding it has raised in an effort to dominate the North American and European markets.
The California-based company will launch its service in Fort Lauderdale, Florida, and Vienna, Austria, as early as next week, said chief executive and co-founder Toby Sun.
Lime is one of several start-ups that offer dockless, electric scooters and bikes for rent, a burgeoning business that has rattled city regulators and cluttered sidewalks and bike lanes.
Mr Sun said customers have completed 11.5 million rides on Lime e-scooter, e-bikes and pedal bikes since the company launched just more than a year ago. While the business resembles ride-hailing companies like Uber and Lyft - passengers use a smartphone app to find a vehicle nearby - the business model is more profitable, as there are no drivers to recruit or pay.
However, many in the industry expect the crowded nature of the scooter business will force prices down, eating into profits.
Lime has raised $467 million from investors, including a $335m round in July that involved a deal with Uber to include Lime scooters in the Uber app. Lime is available in the United States, Switzerland, Germany, Spain and France.
Fort Lauderdale and Vienna mark the start of a rapid expansion, as the company plans to enter two to four new cities each week through the end of the year, Mr Sun said.
_______________
Read more:
Uber to move from cars to e-bikes for shorter trips
On the move: hitching a ride to the future on an e-scooter
_______________
Electric bikes and scooters "are well-positioned to solve the global problem" of passengers completing the first and last-mile of a trip, when public transit centres are just out of reach, he said.
Meanwhile, one of Lime's chief competitors, Bird, said on Thursday its e-scooter service has completed 10 million rides since launching a year ago. Bird is available in 100 cities and has 2.1 million riders, and has raised $418m from investors.
Investment in e-scooter and e-bike services has not been snarled by opposition from regulators or by safety concerns. Venture capitalists and entrepreneurs, encouraged by the quick and loyal adoption from scooter riders, have rushed at the opportunity to provide more transportation solutions as urban areas get more congested and climate change poses a greater threat.
Mr Sun said some cities were quickly loosening their regulations, with Austin, Texas, raising its limit on e-scooters and e-bikes to 2,000 from about 500 in just two months, for instance.
For now, Lime is focused on North America and Europe, while Bird has its eye on an expansion in Latin America.
However, basic issues for the industry remain unresolved, such as where scooter users should ride the vehicles, helmet laws and fixing the backlog at scooter manufacturers.
MATCH INFO
Kolkata Knight Riders 245/6 (20 ovs)
Kings XI Punjab 214/8 (20 ovs)
Kolkata won by 31 runs
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Company%C2%A0profile
%3Cp%3E%3Cstrong%3EDate%20started%3A%20%3C%2Fstrong%3EMay%202022%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EHusam%20Aboul%20Hosn%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDIFC%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%E2%80%94%20Innovation%20Hub%3Cbr%3E%3Cstrong%3EEmployees%3A%20%3C%2Fstrong%3Eeight%3Cbr%3E%3Cstrong%3EStage%3A%20%3C%2Fstrong%3Epre-seed%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3Epre-seed%20funding%20raised%20from%20family%20and%20friends%20earlier%20this%20year%3C%2Fp%3E%0A
Pox that threatens the Middle East's native species
Camelpox
Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.
Falconpox
Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.
Houbarapox
Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
