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Technology Stocks : Uber Technologies and Lyft Inc. IPOs

UBER 92.75

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Nov 5 3:59 PM EST

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From: Glenn Petersen	5/5/2020 12:28:03 AM
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Uber is reportedly considering another investment in Lime, in a round that would sink the embattled scooter startup's valuation by nearly 80% — and give Uber the option to buy it in 2 years Bani Sap Business Insider May 4, 2020 -- Uber is reportedly considering leading a $170 million emergency fundraising round for the scooter startup Lime, according to the Information. --The terms of the deal will hit the scooter startup hard. The round will reportedly slash Lime's valuation to $510 million, a 79% slide from the startup's whopping valuation of $2.4 billion in 2018. -- As a part of the deal, Uber will have the option of buying Lime between 2022 and 2024 at a specific price, the report said. -- But while the terms of the new proposed deal swing in favor of Uber, it's worth noting that the investment comes at a time when the ride-hailing giant has also been under severe pressure as the coronavirus outbreak has slammed its core business. -- Both Uber and Lime did not immediately respond to requests for comment. businessinsider.com businessinsider.com

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