Motivate
Motivate acquired by Lyft

The urban mobility space is absolutely on fire with recent transactions like Uber’s acquisition of JUMP Bikes, Bird’s $300M recent funding, and Lime’s recent $250M funding. Lyft is now making its foray into the market with its acquisition of Motivate, the company that operates Citi Bike in NYC and bike-sharing services in 7 other markets including SF, Chicago, Boston, and Minneapolis, controlling 80% of bike sharing in North America. Financial terms of the transaction were not disclosed but earlier it was estimated to be close to $250M. “How we get around cities is changing rapidly, and the combination of Lyft and Motivate will bring tremendous new resources and energy to making sure that bike-share plays a fundamental role in the new urban mobility,” said Motivate Executive Chairman Steve Koch. “Together, we believe that integrating our services in partnership with the public sector will transform the urban transportation landscape, increase bike ridership, and make our cities better.”
Investors in the acquired company: Undisclosed
Total funding raised: Undisclosed
Full coverage: Motivate, the Company Behind Citi Bike, Acquired by Lyft for a Rumored $250M

The AlleyWatch audience is driving progress and innovation at a global scale. Reaching more individuals in a single month than every other tech-focused organization in NYC combined, AlleyWatch is the highway for technology and entrepreneurship in New York. There are a number of options to reach this audience of the world’s most innovative organizations and startups at scale including sponsoring a piece like this, which will be read by the vast majority of key influencers in the entrepreneurial universe. Find out more here.