Lyft pumps $100 million into major expansion of New York City’s Citi Bike

lyft pumps 100 million into new york citys citi bike

It’s better known for ridesharing, but make no mistake, Lyft is getting serious about expanding into bikesharing services, too.

Its plan is evidenced by Lyft’s announcement on Thursday, November 29, that it has now completed its acquisition of Motivate — the largest bikesharing provider in North America.

With the announcement came news that Lyft is pumping $100 million into New York City’s Citi Bike service, which is operated by Motivate.

The investment will see Citi Bike grow from 12,000 docked bikes to a whopping 40,000 over the next five years. But the expansion doesn’t only refer to the number of bikes, as the service area will also be increased by 35 square miles to more than double what it is now. The fleet will comprise a mix of regular and pedal-assist electric two-wheelers.

Responding to news of Lyft’s major investment, Mayor Bill de Blasio described New York City as “one of the world’s great biking cities,” adding, “And it’s about to get even better.”

“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 de Blasio said in a statement. “It also means much more reliable service for all the riders who already use Citi Bike.”

Lyft sees its growing interest in bikesharing as a natural extension of its “vision to improve transportation access, sustainability and affordability.”

It says bikesharing offers a slew of benefits, including improved personal health and journey times that beat walking and gridlocked traffic.

“With this acquisition, we are poised to help take bikeshare to the next level: Adding thousands of bikes and stations in communities that haven’t had access to transportation; making bikeshare membership more convenient and affordable than ever; and deploying new electric bikes on a major scale,” Lyft said in a blog post announcing its latest expansion into bikesharing.

Besides bikes, the company recently moved into scootersharing services, too. Lyft says its goal is to take a million cars off the road by the end of 2019 by persuading people to ditch their own vehicles in favor of its various transportation services.

The company is battling with Uber to become the go-to service for urbanites looking to get across town via a mix of transportation options, whether cars, bikes, or scooters.

In April 2018, Uber acquired bikesharing startup Jump, which offers electric bikes for hire in 12 U.S. cities, among them San Francisco, New York, Chicago, and Washington, D.C. Uber has also partnered with Lime, which operates a sharing scheme using electric scooters as well as bikes. Lyft’s acquisition of Motivate means it now has control over a slew of bikesharing schemes, including Ford GoBike in Lyft’s home city of San Francisco, Divvy in Chicago, Bluebikes in Boston, and Capital Bikeshare in Washington, D.C.


You could soon see electric scooters driving themselves to charging stations

It might not be too long before electric scooters used by companies like Bird and Lime begin driving themselves to charging stations rather than having to be collected by a team of people at the end of the day.

What is 5G? Here’s everything you need to know

It has been years in the making, but 5G is finally becoming a reality. While 5G coverage is still extremely limited, expect to see it expand in 2019. Not sure what 5G even is? Here's everything you need to know.

Here are the cities where you can access 5G from major U.S. carriers right now

5G may not be widely available just yet, but it's slowly getting there. Interested in checking out the next-gen network for yourself? Here are all the cities where 5G is currently available.

Here’s why your Uber or Lyft car always seems to be a Toyota Camry

The Toyota Camry is one of the most popular cars sold in the United States, and not just with retail buyers. Uber and Lyft drivers love the Camry for its reliability, according to a new report.
Emerging Tech

India’s lunar mission just got one giant leap closer to the moon

India’s uncrewed lunar mission entered into the moon’s orbit on Tuesday, bringing it within striking distance of its historic goal, according to an announcement from the Indian Space Research Organisation.

Limited-edition Hyundai i30 N Project C will be Korea’s hottest hatch

Hyundai will unveil a limited-edition version of its i30 N hot hatchback at the 2019 Frankfurt Motor Show in September. The car, called Project C, will feature carbon fiber-reinforced plastic parts to reduce weight.
Emerging Tech

Move over Spot. There’s a new robo-dog on the block — and it’s waterproof

ANYbotics, the Swiss robotics company behind the four-legged, oil rig-inspecting ANYmal robot, has released its next-generation quadruped robot dog successor. Check it out in action.

Elon Musk likes Newt Gingrich’s $2 billion moon base prize

SpaceX CEO Elon Musk really likes former House Speaker Newt Gingrich's idea to award a $2 billion prize to anyone who can build and run a base on the moon. Gingrich proposed a contest to see who can establish and run the first lunar base. 
Home Theater

Apple TV+ will launch by November, cost the same as Apple Music

Apple's streaming video service Apple TV+ will reportedly cost $10 per month, putting it in line with the per-month cost of Apple's subscription-based Apple Music and Apple News+ services.
Movies & TV

It’s official: The Matrix 4 will bring back Keanu Reeves, Carrie-Anne Moss

Get ready to take the red pill once again: Original co-director Lana Wachowski will write and direct a new sequel to The Matrix, with Keanu Reeves returning as Neo and Carrie-Anne Moss coming back as Trinity.

Casio’s newest PRO TREK smartwatch finally adds heart rate monitoring

Casio's PRO TREK WSD-F21HR is the company's first smartwatch with a heart rate monitor. The $500 WearOS watch tracks runs, cycles, and climbs via GPS. It can also log activity, outdoor conditions, and save trails for future treks.

Is Facebook biased against conservatives? Here’s what a GOP-led report found

A report by former Arizona GOP Senator Jon Kyl took a look at whether Facebook is biased against conservatives. The report found that conservatives don't trust Facebook, but found little in the way of anti-conservative bias on the platform.
Smart Home

Simplisafe adds to its security repertoire with much-anticipated smart home lock

Simplisafe has been killing it in the home security market for over a decade and now it's adding a new smart home lock to its repertoire that works in tandem with its popular video doorbell and security camera.

Microeconomics and a little magic help bring the 2020 Audi RS 6 Avant to U.S.

Audi is finally bringing its high-performance RS 6 Avant to the United States. The new, fourth-generation model will arrive in American showrooms during the 2020 model year with a 600-hp, twin-turbocharged V8 under the hood.