Acquisitions / Transportation

Report: Citi Bike operator might get bought by Lyft

Uber bought Brooklyn's JUMP in April and now Lyft is reportedly eyeing Motivate. The ridesharing war is moving to two-wheeled realm.

A Citi Bike station. (Photo by Flickr user Shinya Suzuki, used under a Creative Commons license)

Unconfirmed deal alert: Lyft may soon purchase the borough’s Citi Bikes.

The ridesharing company is reportedly in negotiations to buy Motivate, which is the parent company that operates New York City’s bikeshare.

CNET has more details:

The Information reports that Lyft has agreed to purchase Motivate for as much as $250 million, though a deal reportedly hasn’t been finalized yet. Beyond Ford GoBike and Citi Bike, other Motivate-operated bike brands include Capital BikeShare, CoGo, Divvy, Blue Bikes and Biketown.

The competition between the ridesharing giants has moved to the two-wheeled realm in recent months. Uber acquired dockless bikeshare company JUMP in April. The company, which sold for a reported $100 million, is based in New Lab at the Brooklyn Navy Yard.

Read the full story
Companies: Citi Bike / Lyft
Series: Brooklyn

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