Lyft to Buy Motivate, One of America's Largest Bike Share Providers
Lyft is attempting to buy bike share operator, Motivate, for a quarter billion dollars in a deal that is still being finalized as of this writing. The potential deal, first reported by The Information, further consolidates the American mobility market. Lyft's competitor, Uber, already owns electric bike startup, Jump, and a handful of scooter share companies. If the deal goes through, the two ride hailing giants will each have their own pieces of the bike share pie.
Motivate, formerly Alta Bicycle Share, may not be well known, but it operates well-known bike shares in Chicago, New York, the Bay Area and other markets. "Beyond Ford GoBike and Citi Bike, other Motivate-operated bike brands include Capital BikeShare, CoGo, Divvy, Blue Bikes and Biketown," Sean Hollister reports in CNET.
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