How Lime's Bikes Will Survive New York's Urban Jungle
*By Jacqueline Corba*
Lime is bringing its dockless bike-share fleet to New York City, but it'll have to prove itself far-off Broadway before it gets a chance to bask in the spotlight of Manhattan.
Since its launch barely a year ago, Lime's dockless bikes and scooters have been an enormous success on the West Coast, starting with its first metropolitan market in Seattle. The company is now serving 70 markets across the United States and Europe.
But until now, New York City riders had to content themselves with the ubiquitous Citi Bike program.
Lime will initially roll out in the outer boroughs. But Lime's Vice President of Marketing, Business Development, and International Expansion Caen Contee said the company's expansion deeper into the city isn't so far off.
"We're not talking about months, we're not talking about a massive amount of time to really see the impact in these areas," Contee told Cheddar Friday. "We think that will show what we need as we continue to prove the ability to move into other parts of New York."
Lime will roll-out 200 bikes in the Rockaways and the North Shore. It is one of five start-ups selected for the [pilot program](http://www.nyc.gov/html/dot/html/pr2018/pr18-039.shtml) in partnership with the Department of Transportation.
But New York isn't Seattle, and a natural question for Lime is how it'll overcome the rampant theft of bikes that has plagued the [concrete jungle of Manhattan] (https://nypost.com/2018/05/16/nypd-busts-alleged-citi-bike-thief-with-loaded-gun/) for decades.
Contee says Lime has only see less than 1% of theft or vandalism across its entire fleet. Technology such as accelerometer sensors, and GPS enables the team to act fast to prevent theft.
The San Mateo based start-up has raised $132 Million in funding to date, with more capital on the way. Alphabet is joining a $300 million financing round in Lime, according to the [Financial Times.] (https://www.ft.com/content/821f4410-7bf4-11e8-bc55-50daf11b720d) Contee said Lime remains in a capital intensive mode, but did not confirm the reports of Alphabet funding.
"It's a lot about building for the long term, which is part of what we've done from day one," said Contee.
For the full segment, [click here.](https://cheddar.com/videos/scooter-wars-heat-up-why-lime-thinks-its-poised-to-win)
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Scott Trench, host of the BiggerPockets Money Podcast, explores how recent rate cuts, high borrowing costs, and mortgage rates are reshaping U.S. real estate.
A look into how disruption, AI, and global economic trends are transforming the modern supply chain with Jeremy Jansen, Head of Supply Chain at Wells Fargo.
Delta CSO Amelia DeLuca reveals at the Fast Co. Innovation Festival how tech, sustainable aviation fuel, and smart operations are revolutionizing air travel.
Chipmaker Nvidia will invest $100 billion in OpenAI as part of a partnership that will add at least 10 gigawatts of Nvidia AI data centers to ramp up the computing power for the owner of the artificial intelligence chatbot ChatGPT.
Two of the nation’s biggest real estate services companies are combining in a deal that will bring Century 21, Compass and several other major brokerage brands under the same umbrella.