Where is the next step for the US sharing electric scooter company Lime?
As one of the largest shared electric scooters in the United States, Lime has raised $765 million to date. On January 12th, at the TechCrunch International Innovation Summit 2019 Shenzhen Station, Lime's CTO Fan Li shared the next step of Lime's plan.
Currently, Lime is a global leader in the shared electric scooter industry, covering 126 cities and 30 countries. In 2019, Lime's revenue reached $100 billion, but it is still at a loss. Fan Li is optimistic about Lime's business situation. She pointed out that Lime has achieved financial balance in most cities and believes that it will achieve profitability in 2020.
This is due to Lime's fast learning ability and the ability to make timely adjustments. In the past six months, Lime has made great improvements in efficiency, such as a 66% increase in efficiency in the UK.
In Los Angeles, where traffic is congested, Lime hopes to provide a convenient travel solution for the last mile.
Lime has not yet achieved profitability. Fan Li believes that the way the company's founders think is very important. She believes that Lime wants long-term development, so we must balance the relationship between growth and cost, be responsible for the long-term development of investors, focus on user experience and efficiency, and bring value to customers and partners. .
Lime is currently a shared bicycle and electric scooter company with global revenues, but it has not entered the Chinese market. Lime has no clear plans for the planning of the Chinese market. Lime is currently focusing on the US market, but is also constantly exploring new markets.
Fan Li believes that Lime is a very localized company that can cope with the different challenges of each city. For example, when promoting services in the European market, Lime found that the road surface in Europe is very different from that in the United States. In order to ensure the user experience, Lime redesigned the electric scooter, so it can be used on the stone road in Europe for a long time.
Lime's new products will be tested on different grounds to ensure that electric scooters can operate in different environments. The technical team collects data to analyze what users in different cities need and what different needs, such as they find that some cities want virtual parking services.
In terms of product iterations, Lime will design new electric scooters at least every six months, and after six months to one year of testing, decide whether to launch the market. "For physical products, we want to be very cautious, we want to ensure the safety of users, and we hope to maintain our brand credibility in the global market." Fan Li said.
Lime has done a lot of work on the safety of electric scooters. Based on the data collected, Lime found that 30% of the accidents occurred during the first trip, so Lime provided dozens of minutes of educational videos on how to use the electric scooter products in 40 cities. In addition, it was found that 1% of people did not suffer serious injuries even in the event of an accident, because they wore helmets. Therefore, Lime also recommends that users wear helmets to drive electric scooters. Finally, Lime's electric scooter has sensors to analyze whether the electric scooter needs to be repaired or decelerated. This combination of hardware and software can further ensure safety.
When talking about China's Mobai and ofo companies, Fan Li thinks that Lime is different from the hope of providing sustainable services. Although Lime is developing very fast, the growth is very cautious, paying great attention to cost control, balancing costs and profitability. The relationship between to ensure a healthy financial situation. In addition, Lime's current products are mainly electric scooters.