Lyft buys the company behind CitiBike, announces Lyft Bikes

Just as we expected, Lyft is moving beyond cars with its next big acquisition. The company announced this morning that it has bought Motivate, the firm behind NYC's CitiBike and Chicago's Ford GoBike. It'll be renamed to Lyft Bikes, while portions of Motivate will stick around to help take care of those bikes, the New York Times reports. Lyft announced last week tha t it received an addition $600 million in funding, bringing its total valuation to $15.1 billion.

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Source: Lyft



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