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Lyft Acquires America´s Largest Bikeshare Service
Wednesday 05 December 2018

5 December 2018 - US-based rideshare company Lyft is completing the acquisition of America's largest bikeshare service, Motivate, the company said.

Headquartered in New York City, the company is responsible for the growth of the country's most ridden bikeshare systems, including Citi Bike (New York), Ford GoBike (San Francisco Bay area), Divvy (Chicago), Bluebikes (Boston Metro area), Capital Bikeshare (Washington, DC metro area), Biketown (Portland), CoGo (Columbus, Ohio), and Nice Ride (Minneapolis).

Last year, 80% of all bikeshare rides in the US were completed on Motivate systems.

New York City Mayor Bill de Blasio has announced that New York City and Lyft will be dramatically expanding Citi Bike, tripling its size to 40,000 bikes.

Bikeshare is a natural extension of Lyft's vision to improve transportation access, sustainability and affordability.

Lyft said its overall work with bikes and scooters will help the company reach its goal of taking 1m cars off the road by the end of 2019.

The company said it is already seeing rapid adoption of its scooters that launched this Fall - in Denver alone, scooter trips account for 15% of Lyft's total rides.

Lyft was founded in 2012 by Logan Green and John Zimmer, and is available to 96% of the United States population as well as select cities in Canada.
Details
Date Published: 05/12/2018
Target: Motivate
Country: USA
Deal Size: 250m (USD)
Sector: Business and Consumer Services
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor:
Buyer: Lyft
Comment:


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