Lyft will be expanding its services beyond ride-sharing with the recent acquisition of the company behind New York City’s CitiBank and Chicago’s Divvy. The deal worth $250 million USD will retain a few members from the organization to manage the bikes business. Lyft plans on rolling out the service to new markets.
“Bikeshare is a natural extension of Lyft’s core approach to improving transportation access and building community through offerings such as shared rides and the integration of public transit in our app,” the company wrote in a blog post. “These investments are making it possible to have fewer cars on the road and reduced congestion.”
Rival Uber purchased Jump, another bike service earlier this year.