Uber poised to make investment in scooter-rental business
UNDATED (AP) - The ride-hailing company tweeted a link Monday to a story about an Uber investment in Lime, a startup based in San Mateo, California.
Bloomberg News reports the companies will announce that Uber is investing in Lime in a deal that values the scooter outfit at $1.1 billion. The report says Uber will put its names on the bikes.
Customers can rent Lime scooters in many urban locations and leave them parked for the next customer to ride. The company is looking to buy tens of thousands of lightweight scooters to expand its reach.
For Uber, the move follows its purchase earlier this year of Jump Bikes, which rents electric bicycles in a half-dozen cities including San Francisco, Chicago and Washington.
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