Lime is doubling down on cities where it already operates. It's about creating more loyal riders, its CEO says
Lime CEO Wayne Ting focuses on adding scooters and bicycles in US cities to enhance reliability and rider engagement after company's IPO.
Lime, the scooter and bike sharing company, is focusing on expanding its fleets in cities where it already operates, according to CEO Wayne Ting. The company's aim is to create more loyal riders, Ting said during a Business Insider interview. Lime reported its first profitable second quarter earnings, with revenue growing 24% to $304 million and net income of $295 million.
The company operates in about 60 US cities and plans to add more vehicles to its existing fleets to improve reliability and attract frequent riders. Lime's payment options, such as LimePass, will also play a role in increasing ridership, Ting added. The company uses AI to optimize the placement of scooters and bikes based on demand, ensuring they are nearby when riders need them.
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