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
How was it? So we started like every company builds a budget and a plan for the year. In 2020, we had our budget, we had our plan, but nobody builds a plan where your revenues fall 90, 95% in a matter of days, which is what happened in the early weeks of COVID. We knew going into 2020, we needed to go raise more money.
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