Toby Sun of Lime on Scooters and the Future of Transportation
GGV Capital’s Hans Tung and Zara Zhang interview Toby Sun, the co-founder of Lime, a GGV portfolio company that's disrupting last-mile transportation in the US. A few months ago, we had Brad Bao, the other co-founder, on the show, back when the company was still called "LimeBike." At that time, Lime's operation was still pedal bikes only. A lot has changed since then. In a short span of a few months, LimeBike has expanded into 20 markets in four countries, changed its name to “Lime”, added other transportation modes including e-bikes and e-scooters to its services, and announced a $335 million funding round led by GV with participation from Uber, which will become Lime's strategic partner in the electric scooter space. Lime is currently working with Uber to co-brand its scooters and make them available in the Uber app.
In the episode, we discussed why scooters have a future in the US, how Lime envisions its partnership with Uber, and whether Lime sees itself as a “super app” going forward.
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The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 290 companies, with 46 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
We also recommend checking out our sister podcast, Founder Real Talk. It is a biweekly show that discusses challenges that founders and executives face and how they grow by dealing with them. The show is hosted by Glenn Solomon, managing partner at GGV Capital.