The Ledger
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Lime is already profitable in dozens of individual city markets
“We already have dozens of markets of profitable.”
Lime spends zero dollars on paid user acquisition, says CEO Brad Bao
“We don't spend a penny on user acquisitions”
Majority of smaller micro-mobility players will struggle to survive
“It's too early in the industry to say that what could happen, but I would say, though, some of the learning we have from the history that There might be some form of consolidation, but majority of them that it will be just smaller ones will be having a hard ti…”
Lime deliberately rejected Uber's playbook of launching without prior city approval
“When we started a company that the proven formula, which is a uncommon common practice, That idea to get into a city. Well, you know Uber established it, right? You just go to the city, you launch the service, and talk about it with the city after that. And we…”
Lime captures majority market share with only half the deployed fleet
“There are many markets that we are half of the fleet that will have way more than half of the market share that representing it.”
Perfecting micro-mobility vehicles will take decades, predicts Brad Bao
“If we use automobile industry as a Predicate that it takes the whole industry literally at 100 to 200 years to perfect the car. I don't see a reason that, you know, the scooter or the bikes or e-bikes that will be much shorter than that.”
Hire executives 12 months before you need their full team built
“So for us, the way I look at it is that just imagine that a talent or a executive that imagine the team he or she will be managing 12 months from now. So therefore that you bring them on 12 months earlier and give them the opportunity to build that team over t…”
Lime aims to replace 20-30% of city traffic within five years
“And for five years that what I really hope is for the cities that we're operating in, that we may not be able to cut the traffic by 50% yet, but at least that we can lift it from one percent, two percent today to, you know, 20, 30% of that. The of the car traf…”
Lime operates in over 100 markets globally within two years
“We are a company that's two year and five month old, but we're already operating in 25 plus countries and over a hundred markets across the world.”
Micro-mobility accounts for less than 1% of global urban traffic
“Even with the growth of Lyme and with all the other, you know, peers that are pushing for more greener and healthier and more energy efficient ways to travel in the city, we're talking about less than one percent or even much less than one percent of the total…”
Half of all urban trips are under two miles, says Brad Bao
“About 50% of all the trips in urban environment are less than two miles”
Lime released four major hardware vehicle generations within 12 months
“We started building our hardware team and doing the vertical integration started day one. And what it enabled us to do is in the last 12 months or so that we released Four major versions of the vehicles, and one generation after generation that we improve on t…”