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Lime electric scooters. Photo: Lime

Lime, a San Francisco-based bike and scooter-sharing startup, is raising around $250 million in new funding led by GV (formerly Google Ventures), Axios has learned.

Why it matters: E-scooter competition keeps heating up, with rivals like Lime and Bird believing that cash-grabs will translate into land-grabs.

  • The deal is not yet closed, which means the final size could change a bit. Existing backers like Coatue Management and Andreessen Horowitz are expected to participate.
  • Lime has told investors that its users have taken a total of 4.2 million rides, one million of which were between May 5 and May 27. One source says each Lime scooter is used, on average, between 8 and 12 times per day.
  • Axios previously reported that Lime was seeking to raise up to $500 million in a combination of equity and debt, but the latter is currently on hold. Expect it to come at some point later, likely in the form of equipment financing.
  • Rival Bird reportedly is raising $150 million in new funding to be led by Sequoia Capital, with a Delaware filing (provided by Axios by Lagniappe Labs) showing that it has authorized up to $200 million in Series C shares. If all sold, its valuation would top $1 billion.

Go deeper: How the scooter economy differs from the ride-hail economy

Go deeper

Dion Rabouin, author of Markets
39 mins ago - Economy & Business

Biden's inflation danger

Illustration: Sarah Grillo/Axios

President-elect Joe Biden's $1.9 trillion stimulus proposal has economists and bullish market analysts revising their U.S. growth expectations higher, predicting a reflation of the economy in 2021 and possibly more booming returns for risk assets.

Yes, but: Others are warning that what's expected to be reflation could actually show up as inflation, a much less welcome phenomenon.

Ina Fried, author of Login
2 hours ago - Technology

CES was largely irrelevant this year

Illustration: Sarah Grillo/Axios

Forced online by the pandemic and overshadowed by the attack on the Capitol, the 2021 edition of CES was mostly an afterthought as media's attention focused elsewhere.

Why it matters: The consumer electronics trade show is the cornerstone event for the Consumer Technology Association and Las Vegas has been the traditional early-January gathering place for the tech industry.

The FBI is tracing a digital trail to Capitol rioters

Illustration: Sarah Grillo

Capitol rioters, eager to share proof of their efforts with other extremists online, have so far left a digital footprint of at least 140,000 images that is making it easier for federal law enforcement officials to capture and arrest them.

The big picture: Law enforcement's use of digital tracing isn't new, and has long been at the center of fierce battles over privacy and civil liberties. The Capitol siege is opening a fresh front in that debate.