Uber is set for a payday from Lime’s IPO — and is interested in doubling down on the scooter bet

• Uber is the largest shareholder in scooter rental service Lime.
• Lime filed a prospectus on Monday detailing plans for an IPO, targeting a price of $24 to $26 per share.
• Uber also has an option to double down on its investment, according to the filing.

Uber has a lot riding on scooters.

The ride-hailing company, which was an early investor in scooter rental business Lime, is the company’s largest shareholder, according to a prospectus detailing plans for an initial public offering that Lime filed on Monday. Uber owns about 14 million shares, or a 24% stake ahead of the IPO, according to the S-1 securities filing.

Uber’s stake would be worth about $350 million if Lime prices its IPO at $25 a share, the midpoint of the $24 to $26 target range the company shared in its filing.

Lime said Uber has shown interest in buying up to $20 million in additional Lime common stock as part of the IPO, according to the prospectus.

Uber did not respond to a request for comment.

Precisely how much Uber stands to make on its Lime investment remains to be seen. The companies have not publicly shared how much Uber has invested in Lime over the years. Lime could revise its planned price per share before it goes public. Uber also faces restrictions on how many shares of Lime stock it can sell over the next two years — and thus how much it can cash out — as part of the IPO terms.

Lime and Uber go way back. Wayne Ting, Lime’s CEO, previously served as chief of staff to Uber CEO Dara Khosrowshahi. Uber also invested in some of Lime’s fundraising rounds, including leading a $170 million round announced in May 2020.

Many Lime users find a scooter or bike to ride through Uber’s app. Such trips accounted for about 14% of Lime’s revenue in 2025, according to the prospectus.

That relationship has helped Lime acquire new customers. “By leveraging Uber’s existing infrastructure and rider network, we tap into an existing rider base that can drive awareness without upfront marketing costs,” Lime wrote in the filing.

The relationship between Lime and Uber might serve as a model. Uber has struck partnerships with around a dozen self-driving car providers over the past few years, from Waymo in the US to Baidu in Asia and the Middle East.

Uber, which already has millions of riders signed up to use its app, can match those robotaxi services with riders, Khosrowshahi has said.

“I do think the aggregator model certainly would be helpful for all of those companies to succeed,” he told the “Stratechery” podcast last year.

Do you have a story to share about Lime or Uber? Contact this reporter at abitter@businessinsider.com or via encrypted messaging app Signal at 808-854-4501. Use a personal email address, a nonwork WiFi network, and a nonwork device; here’s our guide to sharing information securely.