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
One major thing was an investment in proprietary hardware. Every other operator in our industry buys off the shelf hardware, but every scooter and bike you see on Lime's platform, we design, we engineer, we produce, and we operate ourselves. That is more expensive, but we do it because we believe fundamentally you can't drive right customer preference if you cannot differentiate.
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