Title

As Lime Leaves 12 Markets, A Note On Scooters

Continuing the spiral of layoffs amid tech companies this week, Scooter startup Lime will leave 12 markets as it focuses on profitability.

The news, first reported by Axios, comes after Lime raised more than $700 million in funding and expanded rapidly.

Now that the company is pulling back from markets and trying to become profitable, it will also lay off about 14 percent of its workforce, or about 100 people, Axios reported.

Scooter startups burst onto the scene about two years ago, with Lime initially competing with the likes of Skip and Bird.

Full Article