Lyft Acquires Citi Bike’s Parent Company Motivate to Enter the Bike-Sharing Market

Citi Bike, a bicycle-sharing network ubiquitous in New York, is getting a new owner. Lyft, the ride-hailing company originally known for its pink mustaches, announced it's acquiring Motivate, the parent company of Citi Bike and other bike-sharing networks. The deal, announced today, gives Lyft access to Motivate's technology, business operations and existing city contracts even...

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