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Lyft Buys Bike-Share Company
Lyft Inc. has purchased Motivate International Inc, the largest provider of bike-sharing services in North America.
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Lyft Inc. has purchased Motivate International Inc, the largest provider of bike-sharing services in North America. Terms were not disclosed.
Company’s dock-based sharing system operates under several local brands, including Ford GoBike in San Francisco, CitiBike in New York City and CoGo in Columbus, Ohio.
Lyft is renaming the business—consisting of Motivate’s technology and city contracts—as Lyft Bikes. Maintenance and service operations in North America will continue as a stand-alone business under the Motivate name.
Lyft’s purchase follows a similar move by Uber Technologies Inc. in April. Uber spend a reported $100 million to acquire Jump Bikes, a provider of “dockless” electric-bike-sharing services. Dockless services allow users to lock leave a bike they use anywhere bike parking is allowed rather than at dedicated bike parks.
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