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Photo: Lime

E-scooter company Lime wants to expand its business into areas like ultra-compact electric cars, local merchant promotions and delivery, according to a confidential fundraising deck obtained by Axios.

Background: Axios previously reported that GV, a venture capital affiliate of Google parent company Alphabet, is leading a $250 million equity round into Lime at around a $1 billion post-money valuation.

Here are the pitch-deck highlights:

Transit pods: Lime plans to begin testing rides in ultra-compact electric cars in Q4 of this year in one or two markets. It has identified a couple of models, including the Renault Twizy, which have a range of 60-100 miles and are weatherproof, that it predicts will cost $100-200 per month to lease.

  • Based on Daimler's Car2Go car rental service, Lime estimates it will charge $1 to start, plus 40 cents per minute. With an average trip length of 20 minutes (or 3.8 miles), and six trips per car, per day, it expects $54 in revenue and $37 in gross margin after costs.
  • Lime plans to allocate $50 million of its fundraise to this effort.

Merchant deals: Lime, which already has more than 500,000 customer credit cards on file, wants to show customers nearby deals at restaurants and other merchants via its app.

  • Lime often uses freelancers to charge its scooters, and could also use these workers for food or grocery deliveries.
  • It plans to start such experiments in the second half of 2018.

Scooters: As of late April, scooter rides made up 60% of Lime’s monthly revenue. In D.C., San Francisco, and San Diego, more than 50% of scooter riders use the service at least four times a month.

  • In San Francisco, Lime says that it was able to deploy its scooter service after only three weeks of prep work, and it broke even in just the second week after launch.
  • Daily trips per vehicle hit 9.3 as of mid-April, daily revenue per scooter rose to $27.70, and daily cost per scooter was at $14.30.
  • Using these numbers, a $493 scooter with a daily depreciation of $4.9o, has a gross margin of about $9.10 and can pay itself off in 1.8 months. By the end of 2018, the company estimates its scooters will have a gross margin of $12.40 and with a payback period of only a month.
  • Across San Francisco, Austin, D.C., and San Diego, more than 60% of scooter charging is done by freelancers. The average charger makes $30-50 per day, charging seven scooters at $5-8 per scooter, amounting to $1,400 in earnings per month.

Financials: As of April, Lime says it is on track to have $25 million in annual run rate, and projecting to hit $100 million between May and July, and $500 million by December.

Go deeper

Updated 2 hours ago - Sports

Olympics dashboard

Katie Ledecky in Tokyo. Photo: Ding Xu/Xinhua via Getty Images

🚨: Simone Biles won't compete in individual vault or uneven bars

🏊‍♀️: Katie Ledecky wins gold in women's 800m freestyle

🏊: Caeleb Dressel breaks world record in men's 100m butterfly, 3rd gold

🇬🇧: Britain wins gold in first-ever Olympic mixed 4x100m medley relay

🎾: Novak Djokovic defeated in Olympic semi-finals

💻: Japan tests teleporting games and "remote cheering"

Go deeper: Full Axios coverage

Updated 3 hours ago - Sports

Simone Biles won't compete in individual vault or uneven bars Olympic finals

Photo: Loic Venance/AFP via Getty Images

Simone Biles will not compete in the individual vault or uneven bars finals at the Tokyo Olympics, USA Gymnastics announced Friday.

Why it matters: USA Gymnastics said Biles, who previously withdrew from the individual all-around and team finals to prioritize her mental health, will continue to be evaluated to determine if she'll compete in the balance beam or floor exercise events.

4 hours ago - Sports

American Katie Ledecky wins Olympic gold in women's 800m freestyle

USA's Katie Ledecky reacts after taking gold in the final of the women's 800m freestyle race. Photo: Odd Anderson/AFP via Getty Images

American superstar swimmer Katie Ledecky grabbed her second gold medal of this year's Olympic Games, winning the women's 800-meter freestyle race Saturday in Tokyo.

Driving the news: Ledecky, who holds the world record in the 800m freestyle, is considered one of the best women swimmers of all time. Saturday's final marks her third straight Olympic gold in the event.