Stories
Slash Boxes
Comments

SoylentNews is people

posted by mrpg on Tuesday July 03 2018, @10:35PM   Printer-friendly
from the embrace dept.

Lyft buys the biggest bike-sharing company in the US

Lyft has acquired Motivate, the bike-sharing company that operates Citi Bike in New York City and Ford's GoBike program in San Francisco. Terms of the deal were not disclosed, though it was reported in June to be around $250 million.

Motivate, which Lyft says accounts for about 80 percent of bike-share trips in the US, also operates networks in Chicago; Boston; Washington, DC; Portland, Oregon; Columbus; and Minneapolis. Lyft says it "will invest to establish bike offerings in our major markets and pursue growth and innovation in the markets where Motivate currently operates," but it's unclear where or when it might expand beyond the cities Motivate is currently in. The company also did not share when Motivate's bikes will be available in the Lyft app.

Also at NYT and TechCrunch.

Previously: Uber May Try to Buy Citi Bike Parent Company Motivate

Related: New Electric Bikes, Scooters, and Dockless Bicycles Hitting U.S. Streets
Uber Buys Electric Bicycle-Sharing Startup JUMP Bikes


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 0) by Anonymous Coward on Wednesday July 04 2018, @03:10AM

    by Anonymous Coward on Wednesday July 04 2018, @03:10AM (#702334)

    Yep, good upside.

    Unfortunate downside, sloppy seconds...