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Lyft Acquires Bike Sharing Company
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Lyft Acquires Bike Sharing Company

Lyft invests in bike sharing

Sustainable Mobility

Lyft just became one of America’s biggest bike sharing company with its acquisition of Motivate. Motivate, is the company responsible for CitiBike in NYC and Ford GoBikes in San Francisco.

Lyft’s acquisition of Motivate is another big move by ride-hailing companies toward the goal of diverse and sustainable transportation methods. Earlier this year when Uber announced its acquisition of NYC based electric bike sharing company, JUMP Bikes. Lyft reportedly picked up Motivate for $250 million, while Uber reportedly spent $100 million on JUMP Bikes.

 

Electric Bike-sharing Company, JUMP Bikes

Uber owned JUMP Bikes

 

While second to the bike sharing acquisition party, Lyft just bought 80% of all US bikeshare trips in 2017. But more importantly they acquired access to over 2,370 valuable stations near transit and commerce in cities like NYC, San Fransisco, Portland, Boston, Washington DC and Chicago.

This move may have triggered ride-hailing companies, like Uber & Lyft, to closely consider mobility in the cities they serve. These acquisitions indicate the growing problems of traffic and pollution caused by cars in our cities. Maybe if we can clear our roads for greener and healthier modes of transport, our cities could be a better place to live in.

 

Check out our post about Uber investing in sustainable transportation options for cities of the future,


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