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UBER rival LYFT set to expand into bike-sharing services. Acquires Citi Bike

Lyft is set to expand into bike sharing services

While UBER is comfortable to be called a ride sharing service provide, Lyft is not. They’ve securd the acquisition of America’s largest ride-sharing company Motivate — the largest bikesharing provider in North America. This major move is to expand it’s services into the bike-sharing industry. Motivate was previously operating with a total of 12,000 bikes.  Now, Lyft has pumped in $100 million into the New York City’s Citi Bike service. This huge investment will see Citi Bike grow from 12,000 bikes to a whopping 40,000 bike over the next 4 years.

The fleet of bikes will comprise of normal bikes as well as electric powered bikes. New York City is one of the major biking cities in the world. This move will even make it better. Mayor Bill de Blasio said in a statement that  “This expansion means tens of thousands more New Yorkers are going to have a fast and inexpensive way to get around their city,” de Blasio said in a statement. “It also means much more reliable service for all the riders who already use Citi Bike.

The reason this bike service will grow is because it is cheaper than hailing a car.  It’s also perfect for those who want to beat the city’s traffic.  According to  Caroline Samponaro who is the head of  bike, scooter, and pedestrian policy at Lyft, she says “We’re expanding to more neighborhoods outside Manhattan to be able to achieve the equity goals of the system.”

This move means Lyft is poised to battle with UBER. Uber has already acquired bike sharing platform Lime as well as Jump. Jump is a bikesharing startup owned by UBER. While Lyft is planning to expand CitiBike to 40,000, Uber owned Jump is ready to deploy as many as 20,000 electric bikes.

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