Billion Dollar Unicorns: Lime Rides Its Way Into The Club

Lime has raised $455 million in funding from investors including Fidelity Management and Research Company, Triton Funds LLC, Atomico, Green Bay Ventures, Frankline Templeton Investments, GV, and Uber. Its last round of funding was held in July this year when it raised $335 million in a round led by Google Ventures and Uber that valued it at $1.1 billion.

The bike-sharing industry is witnessing growing interest from big players. Earlier this year, Uber announced plans to acquire bike-sharing company JUMP. In July this year, Lyft also acquired bike sharing company Motivate. Other competitors in the market include Bird and Spin.

Like other ride-sharing services, bike-sharing services also have their own legal issues to deal with. Last year, Bird was sued by Santa Monica city for operating without the proper licenses and permits. The company agreed on a settlement of over $300,000 in fines. Cities are also complaining about parking problems on sidewalks and rising accidents caused by scooter rides. In June this year, San Francisco city banned bike-sharing services while the companies applied for permits. Other cities like Denver and Nashville have banned these services as the city officials decide on the rules to govern the business.

I would like to know if you have used bike-sharing services. Do you think they are a nuisance, as some cities believe, or are they necessary to solve the problem of the first and last-mile connectivity?

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Disclaimer: More investigation and analysis of Unicorn companies can be found in my latest Entrepreneur Journeys book, Billion ...

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