A PYMNTS Company

US: Lyft pushes into bikes with new acquisition

By  |  July 2, 2018

US ridesharing giant Lyft said Monday it was acquiring bikesharing operator Motivate as it ramps up efforts against rival Uber in alternative forms of transportation, reported CNET.

Terms of the deal were not announced for Motivate, which operates bike programs in New York, Boston, San Francisco, Washington and elsewhere.

“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.

Bikeshare networks seem to be the next big thing for ride-hailing companies reported CNET. In April, Uber acquired the dockless bike startup Jump, which has electric pedal-assisted bicycles that can lock to any bike rack or pole. Motivate’s vehicles are primarily powered by human muscles and generally are docked, but the company has been experimenting with bikes that have pedal-assists and are dockless as well. Lyft said it’ll continue to put resources behind those initiatives.

Full Content: CNET

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.