Lyft has bought CitiBike owner Motivate.
Motivate is a company that offers several bike-sharing services around the U.S. These services let customers make use of pedal-assisted bikes for transportation in cities. Among these services, Motivate is the largest with 80% of rides in 2017 being on its bikes.
Lyft doesn’t disclose any of the financial details of the acquisition in its blog about the deal. However, it does note that it intends to help the business grow further and bring its service to more cities.
In its current form, Motivate offers its bike-sharing service in the following U.S. areas.
- New York
- The San Francisco Bay area.
- Chicago
- The metro area in Boston.
- The metro area in Washington, D.C.
- Portland’s metro area.
- Columbus, Ohio.
- As well as Minneapolis.
“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,” John Zimmer, Lyft cofounder and President, 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 isn’t the only company with an interest in bike-sharing services. Rival ride-sharing company Uber also has a stake in the matter. It bought bike-sharing service JUMP Bikes earlier this year as part of its effort to capture the growing market. Financial details of that deal are unknown.
As of this writing, William White did not hold a position in any of the aforementioned securities.
