Tag Archives: Limebike

LimeBike dashes off with $50 million investment to ramp up bike-sharing plans

Commentary

Following its $12 million Series A round in March, LimeBike announced last week that it has raised another $50 million in Series B funding.  All things seem to be looking bright for the California-based startup.  The company has been posting an average 50% week-over-week growth with 250,000 registered users, 500,000 logged trips, and operations in 20 different markets.  What seems to click for LimeBike is its customized approach of making the dockless bike-sharing system work in the US. Aside from tailoring bike programs for long-term partnerships with its users, LimeBike also actively educates its users on parking ethics with parking incentives to address the lack of parking compliance. As the bike sharing space is becoming very competitive, with China heavyweights Ofo and Mobike now coming to the US, speed and differentiation could serve as a key to success. LimeBike looks at launching in two new US cities each week and aiming to expand overseas in 2018. 

Will bike sharing be the next big thing?

Commentary

Bike sharing startups are putting more people on two wheels like never before. In Europe, US, Japan, and China, bike sharing is becoming increasingly popular, so popular that research by global strategy consulting firm Roland Berger indicates that the bike-sharing market will grow to $6 billion by 2020. Investors have likewise taken notice. China’s Mobike has a total of $325 million in venture capital, while its rival Ofo has $580 million in its war chest. In the US, Limebike has recently raised $12 million in venture funding from a consortium of investors. As bike-sharing companies gain traction and younger consumers continue to trend away from ride-sharing services like Uber and Lyft, it looks like bike-sharing programs are here to stay.