High Tech > Acquisition

Lyft will 'more than triple' Citi Bike's size in $100 million deal

1 month ago   |   By Engadget

Lyft has just completed its acquisition of the company behind Citi Bike, and it's not wasting any time ensuring it's a force to be reckoned with in the bike sharing world. The company has struck a deal with New York City to expand Citi Bike through...
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Citi Bike to triple in size, thanks to $100 million from new owner Lyft

Citi Bike to triple in size, thanks to $100 million from new owner Lyft

1 month ago   |   By The Verge

Lyft completed its acquisition of Motivate, the largest bike-share operators in North America, and in celebration, it announced that it will funnel $100 million into a dramatic expansion of Citi Bike in New York City.
With 12,000 docked bikes, Citi Bike is the largest bike-share system in the US. Now, thanks to a five-year $100 million investment from Lyft, it is on track to become one of the largest bike-share programs in the world. Citi Bike would grow to 40,000 bikes over that period, doubling its service area by 35 square miles, the company said.
Citi Bike would grow to 40,000...
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Lyft's pink-wheeled shareable bikes will be available to rent soon

1 month ago   |   By TechCrunch

Lyft has finally given us a glimpse of its forthcoming line of shareable bikes, which the ridesharing company says will be available to rent within its mobile app in select cities “soon.”
The news comes as the $15 billion company announces the final close of its acquisition of Motivate , the New York City-based mobility startup that owns a number of bike-rental services, like Citi Bike, Ford GoBike, Divvy, Blue Bikes and Capital Bikeshare. The transaction was reportedly worth some $250 million .
Lyft brought in $600 million in fresh funding in June from backers Fidelity Research &...
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