Uber-backed e-scooter start-up Lime enters Japan after Korea exit

Quick Summary:

Uber Technologies-backed Lime is entering Japan’s growing e-scooter ride market in a foray that pits the San Francisco-based start-up against home-grown Luup.

Lime had a valuation of about US$510 million in 2020 when Uber led a US$170 million investment round, Bloomberg reported.

Once those restrictions were in place, it then passed a new traffic law doing away with helmet and license requirements for e-scooter users last year, clearing a major hurdle to growth.

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Article Details

Author / Journalist: Bloomberg

Category: Technology

Markets: Hong KongJapanSouth Korea

Topics: Market Grow Luup Scooters Lime Ports Uber Years Ting E-scooter Local

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-20 @ 10:45:09 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 541 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22170854

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