Lyft Finalizes Deal to Purchase Citi Bike and Parent Company Motivate

Photo: Lyft

Ride sharing company Lyft has just finalized a deal to purchase Motivate, the bike share parent company that owns and operates NYC's Citi Bike. Yesterday, Mayor Bill de Blasio announced the acquisition in addition to a major deal which will see the City's bike-share service double in size, and triple in quantity over the next five years! It's a big win for public, affordable transportation in New York City.

In this short video from Fortune, watch Lyft Cofounder and President John Zimmer explain why they did it.

via Fortune

Matt Coneybeare

Matt Coneybeare

Editor in Chief

Matt enjoys exploring the City's with his partner and son. He is an avid marathon runner, and spends most of his time eating, running, and working on cool stuff.

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