Lime bike
Does it make sense to move to Limebike at this stage as the microbility sector is still recovering from Covid? They seem to have IPO plans soon based on the articles posted after their last round of funding. I heard their biggest competitor Bird is going under. Also, Bird's stock price came down to 50cents from $10. Any thoughts? @limebike
Bro you’ve been posting this everywhere. What’s yours?
Surprised that even you are thinking about it
Of all the competition, Lime is best positioned.
I am thinking the same as other brands are not recognizable.
Our revenue is better than 2019 (pre COVID) and our margins much better. Eng is growing by 50% or so this year. No layoffs in sight. Bird had poor timing with their SPAC and keeps losing big city permits. IPO definitely delayed given the macro environment. I’d guess 12-18 months before an IPO at this rate.
Thanks for your response. Can I DM you ?
Lime may not survive long enough to get your return on IPO. Many key ppl left and didn’t bother exercising options.
can u elaborate?
why did so many leave
I interviewed with Lime recently. Got an down leveled offer, and the compensation was down by two levels. Not impressed.
Lol... That sucks Did you end up taking the offer thinking you can cash out big during IPO?
No longer believe in paper money, cash is the king
I think it’s on good track. There are more rides than before, (meaning more revenue), And its business is expanding to more cities.And the engineer team is growing.
Why do your think Lime would be any different from Bird?
Probably the sector is good but weak leadership at Bird vs Lime? Lime is an undisputed leader in this space.
My naive understanding was that the entire industry was possible only because of VC capital for growth and that the mobility companies were actually losing quite a lot of money. Now that VC winter is here it might not be the best time to join. However if you’re more familiar with the industry I’d defer to you.