Uber is reportedly considering another investment in Lime, in a round that would sink the embattled scooter startup's valuation by nearly 80% — and give Uber the option to buy it in 2 years

AP Photo/Mark Lennihan

• Uber is reportedly considering leading a $170 million emergency fundraising round for the scooter startup Lime, according to the Information. 
• The terms of the deal will hit the scooter startup hard. The round will reportedly slash Lime's valuation to $510 million, a 79% slide from the startup's whopping valuation of $2.4 billion in 2018. 
• As a part of the deal, Uber will have the option of buying Lime between 2022 and 2024 at a specific price, the report said. 
• But while the terms of the new proposed deal swing in favor of Uber, it's worth noting that the investment comes at a time when the ride-hailing giant has also been under severe pressure as the coronavirus outbreak has slammed its core business.
• Both Uber and Lime did not immediately respond to requests for comment. 
• Visit Business Insider's homepage for more stories.

Uber is reportedly in talks to lead an emergency fundraising round of $170 million in the scooter startup Lime, according to a new report by the Information's Cory Weinberg and Amir Efrati. 

The news comes as the coronavirus outbreak has decimated the startup's business. Stay-at-home orders and social distancing guidelines have deterred the startup's usual source of customers, forcing it to consider this emergency round as early as March. 

See the rest of the story at Business Insider

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See Also:

• Amazon employees say they're scared to go to work, but they're not alone — here are 9 big companies facing worker criticism over their coronavirus safety response
• Scooter startup Lime is laying off 80 more workers as coronavirus obliterates its path to profitability
• Uber is now lacking a COO, CTO, and CPO, among other high profile executive exits

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