Lyft plans to purchase leading U.S. bike-share operator - Curbed
According to a new report this morning from The Information, ride-hailing startup Lyft has plans to acquire Motivate, a leader in U.S. bike-share systems.
The potential purchase underscores a significant shift in urban transportation—and a big bet by the company—toward a more multimodal, mobility-as-a-service future, where riders have a host of options to get across town and eschew private vehicle ownership.
A spokesperson from Lyft declined to comment on the story.
According to the newest household travel survey conducted by the U.S. Department of Transportation, 35 percent of U.S. vehicle trips last year were two miles or less, ideal for new options such as dockless bikes and electric scooters.
Motivate, which operates a number of regional bike-share programs, including New York’s Citi Bike and San Francisco’s GoBike, earned $100 million last year. Sources quoted in the story suggest acquisition would cost $250 million or more.
Analysts speculate that both Uber and Lyft see the rise of numerous on-demand transportation options as a threat to growth in the urban transportation market, especially for short, frequent trips. Bike-share ridership data compiled by the National Association of City Transportation Officials suggest these services are thriving: 35 million bike-share trips were taken in 2017, an increase of 25 percent from 2016.
Click here to read the full article: https://www.curbed.com/2018/6/1/17417766/lyft-bikeshare-motivate-urban-transportation