- Lyft is acquiring Motivate, the company behind New York Citi Bikes and San Francisco’s Ford GoBikes.
- The company did not disclose how much the deal was worth.
- The acquisition puts Lyft in a position to compete with Uber, as both companies look to expand beyond cars.
Lyft is moving beyond cars and officially getting into the bike-sharing business.
On Monday, the ride-hailing company announced a deal to buy Motivate, one of the largest bike-sharing companies in the US. Lyft did not disclose how much the deal was worth.
Motivate is best known for allowing corporate partners to sponsor its docked bike-sharing programs in major cities. In New York, for example, the company is behind the massively popular Citi Bikes. The company also has DC’s Capital Bikeshare, Chicago’s Divvy, San Francisco’s Ford GoBike, Boston’s Blue Bikes, and Nike’s BIKETOWN in Portland. According to Lyft, 80% of the bikeshare trips in the United States in 2017 were on Motivate-operated systems.
As part of the acquisition, Lyft is getting Motivate’s technology and corporate functions, including its contracts with cities that allow these programs to operate, the company said in a statement.
The deal puts Lyft in a position to compete with Uber, which bought e-bike sharing company JUMP in April. Both companies are actively looking past cars to become a one-stop-shop for moving around cities. Lyft, for example, is applying for a permit to operate its own dockless scooter service in San Francisco.
Business Insider Emails & Alerts
Site highlights each day to your inbox.