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Scooters may be all the rage, but Lyft just bought its very own bike-rental company
1 month ago admin2 Comments Off on Scooters may be all the rage, but Lyft just bought its very own bike-rental company
Lyft is acquiring Motivate, an operator of urban bike-rental programs, both firms said Monday (July 2).
Published| Photo by Reuters/Eduardo Munoz
Motivate is behind some of the most popular bike-share programs in the US, like Citi Bike in New York, Ford GoBike in San Francisco, and Blue Bikes in Boston.
No terms were released, though the Wall Street Journal reports that the price was around $250 million, which is more than the $200 million that Uber paid for Jump Bikes back in April.
Lyft and Uber were dueling over Motivate for a while—or at least, Uber didn’t want its rival to snag a competing bike-rental platform easily.