Tech

Lyft doubles micromobility footprint with PBSC acquisition – TechCrunch

Lyft has signed an agreement to acquire PBSC Urban Solutions, a Canadian provider of bikeshare equipment in the tech, in a move the company says will double its scale in micro-mobility.

The ride-hailing company is on a mission to increase its micro-mobility footprint. Last month, Lyft partnered with animal obsessed to bring spin Electric Scooter from Spin to the Lyft app in 60 US markets by the end of the year. The acquisition of PBSC, the Lyft announced on Tuesday, will add the company’s 7,500 stations and 95,000 bikes, spread across 45 markets in 15 countries, to Lyft’s repertoire.

Lyft currently operates bikeshares in 10 cities as well as a scootershare in San Diego. Lyft expects this deal to take that number to 50.

“Finding a better way to serve both cities and riders with the best bike and scooter sharing systems has long been part of our vision,” said David Foster, Lyft’s head of transit, bikes and scooters, in one Explanation. “Our agreement to acquire PBSC will help us deliver best-in-class products and experiences to drivers in the world’s largest cities for the coming decade.”

Keeping the branding consistent with this purchase shouldn’t be difficult – Lyft’s docks and bikes look similar to PBSC’s, which Lyft attributes to using customized versions of PBSC’s hardware designs that they pioneered.

This isn’t the first time Lyft has acquired a bikeshare company. In 2018, Lyft acquired Motivate and all existing contracts, including Citi Bike in New York City. Citi Bike now has more than 24,000 bikes that saw over 28 million rides in 2021.

While many bikeshare programs are free-floating, like Lyft, PBSC has a station-based approach that Lyft says creates predictability and order in the public pedestrian right-of-way.

Lyft would not share the terms of the deal, which is expected to close by the end of the second quarter.

Lyft doubles micromobility footprint with PBSC acquisition – TechCrunch Source link Lyft doubles micromobility footprint with PBSC acquisition – TechCrunch

Related Articles

Back to top button