Stories

Go deeper: A look at Lyft's big bike-sharing buy

Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

Lyft finally confirmed Monday that it’s getting in the bike-sharing business by acquiring Motivate, the company behind Ford GoBike in San Francisco and Citi Bike in New York. Axios' Kia Kokalitcheva has a look at the deal, which sources tell Axios came with a $250 million price tag.

The bottom line: Once again, Uber and Lyft are going head-to-head, this time with bikes (Uber acquired dockless bike-sharing company Jump in April).