Lyft Acquires Bikeshare Company Motivate

The latest news is all about Lyft. Lyft recently acquired the largest bikeshare operator in the United States, Motivate. You may know the company CitiBike – Motivate is the parent company of the brand. In addition to CitiBike, Motivate operates Ford, Divvy, Blue Bikes, Capital, BIKETOWN, CoGo, and Nice Ride. Motivate companies made up 80% of all bikesharing trips in 2018.

This partnership is a big deal because it will give Lyft access to many resources that have the potential to revolutionize the transportation industry as we know it.

Dockless bikes are becoming a huge trend in the rideshare industry, with many companies establishing services of their own. With this new acquisition, Lyft customers will be able to order a bike through their app just as they would order a regular Lyft vehicle.

According to Lyft co-founder and president John Zimmer, both Lyft and Motivate have a similar goal of reducing the need for personal car ownership. Ultimately, the goal is to reduce the amount of carbon emissions. Lyft is going to provide Motivate with the resources they will need to introduce the dockless and pedal-assist electric bikes in markets across the country.

According to Lyft’s blog, in this agreement, Lyft will acquire Motivate’s technology and corporate functions, while Motivate will operate bike maintenance and servicing as a standalone business.

Lyft announced that they want bikesharing to be available to individuals of all income levels, even in places where there is limited access to public transportation. This partnership and trend in bikesharing will play an important role in changing the way we move around. Some argue this move by Lyft even puts the company ahead of Uber in this specific market. It's no surprise, after Lyft was recently valued at $15 billion.