Lyft Buys the Largest U.S. Bike-Sharing Company
Lyft just upped the transportation game in a move that has nothing to do with cars.
The ride-hailing company has bought Motivate, the largest bike-rental operator in North America and the parent company of NYC’s CitiBike and Chicago’s Ford GoBike. The business, which reportedly dominates roughly 80% of bike-rental trips in the U.S., will be renamed Lyft Bikes.
Under the deal, Lyft will acquire Motivate’s technology, corporate functions as well as its contracts with New York City, Chicago, and six other major cities across the country, the New York Times reports.
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