Lyft acquires bikesharing company Motivate
The company behind CitiBike and Ford GoBike 🚴♂️
Posted on July 2, 2018 8:03 PM.
Last month, it was reported that Lyft was considering buying the bikesharing company Motivate, the company responsible for CitiBike and Ford GoBikes. Today, Lyft announced the acquisition of Motivate, and the introduction of “Lyft Bikes.”
“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,” said John Zimmer, Lyft co-founder and president. “Bringing together Lyft and Motivate will accelerate our collaboration with cities and deliver even better experiences to our passengers and riders.”
Getting into bikes might seem like a strange move for Lyft, but it follows in the footsteps of Uber's Jump acquisition earlier this year. Uber was also reportedly interested in snapping up Motivate as well.
Lyft's new acquisition will help expand its product offering across the country, and reach a broader audience than just those interested in ridesharing.
Lyft is also rumored to be interested in developing a line of scooters as well, similar to Bird or Lime, and recently applied for a permit in San Francisco.
Some believe bikes and scooters could be the key to the last-mile problem, getting people to where they need to go, when the destination is too close for a car ride, and too far to walk. As part of the acquisition, Lyft is acquiring Motivate's technology and contracts with the cities — some of which are exclusive. As for Motivate's maintenance and servicing operations, those will remain a standalone business, and keep the Motivate name. The financial terms of the deal were not disclosed.
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