Lyft Closes Deal With Motivate, Sets Out to Improve Bike-Sharing in NYC
Lyft just closed on its acquisition of Motivate. Now the car-sharing service is planning to offer shareable bicycles.
The $250 million acquisition of Motivate–which owned a number of bike rental services including Citi Bike, Ford GoBike, Divvy, Blue Bikes, and Capital Bikeshare–makes Lyft the largest bike-service company in America.
On Thursday, New York’s Mayor Bill De Blasio announced that Lyft is investing $100 million to help expand and improve Citi Bike over the next five years as part of its agreement to acquire Motivate.
“This expansion means tens of thousands more New Yorkers are going to have a fast and inexpensive way to get around their city,” Mayor de Blasio said in a press release. “It also means much more reliable service for all the riders who already use Citi Bike.”
Lyft has also tried its hand in the scooter rental industry with success in Denver and has plans to expand to other cities into 2019.