Scoop: Uber may try to buy bike-share company Motivate
Uber is considering a takeover offer for Motivate, the bike-share company behind such programs as CitiBike in New York and Ford GoBike in San Francisco, Axios has learned. This comes on the heels of a report that Lyft has made its own bid for Motivate, valued at $250 million of more.
Bottom line: Ride-hail companies are seeking to expand their urban offerings, whether that be via bikes, flying taxis or scooters.
- Uber recently acquired Jump, which has an exclusive permit for San Francisco's dockless bike-share program.
- Motivate operates "docked" programs in eight U.S. cities: Boston, Chicago, Columbus (Ohio), Jersey City, New York, Portland (OR), San Francisco and Washington, D.C.
- It reports 3.18 million total rides taken in May 2018.
- Brooklyn-based Motivate has raised nearly $50 million from firms like Generation Investment Management, according to PitchBook.
An Uber spokesman declined comment.