Tuesday, July 03, 2018

Lyft gets into bike-share business, acquiring operator of Capital Bikeshare and Citi Bike -- The Washington Post

Ride different
"The ride-hailing company acquired Motivate, the operator of Capital Bikeshare and New York’s Citi Bike, among other bikeshare services, in a deal believed to be valued at least $250 million. The company will introduce “Lyft Bikes,” seizing on the momentum around dockless and pedal-assist e-bikes in major U.S. cities, and inject resources into the bikeshare operator to expand those offerings around the country.

It was not immediately clear where Lyft planned to launch those services; the company declined to comment Monday on the details of any product rollouts.

“Lyft and Motivate have both been committed for years to the same goal of reducing the need for personal car ownership by providing reliable and affordable ways to move around our cities,” Lyft co-founder and President John Zimmer said in a statement. “Bringing together Lyft and Motivate will accelerate our collaboration with cities and deliver even better experiences to our passengers and riders.”"
Lyft gets into bike-share business, acquiring operator of Capital Bikeshare and Citi Bike -- The Washington Post
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