The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Lime's CEO on Going from Losing $3 on Every $1 to $90M in EBITDA | How Lime Built the Global Leader in Micromobility When Competitors Went Bust | Losing 90% of Revenues in COVID and The Uber Deal That Saved the Company with Wayne Ting
Wayne Ting
When I first joined Lime, I think we were losing $3 for every dollar of revenue. The daily decay rate was 3%. So in the course of 30 days, your entire fleet was gone. So the business was completely upside down. I would say my first four years as CEO, I was constantly worried about Lime going out of business. Lime wouldn't have survived if we did not do that deal.
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