Lime Scooter CEO Talks Going Public, Fleet Revamp Following $523 Million Fundraise

E-scooter company Lime is gearing up to launch an IPO after raising $523 million in debt financing. CEO Wayne Ting joined Cheddar to talk about the decision behind the future public offering citing the fundraise as a sign of investor confidence, despite a massive drop-off in ridership amid the pandemic. He noted that some of the funds will not only be used to pay down debts but to also upgrade the company's fleet of e-bikes and scooters. "We're going to be investing $20 million of this funding towards our mission to get to net-zero on carbon by 2030," he said.