Lyft Nears Acquisition of Motivate, U.S. Bike-Share Leader

By Amir Efrati and Cory Weinberg : theinformation – excerpt

Lyft has agreed to buy Motivate, which runs some of the biggest U.S. bike-share programs, according to two people briefed about the deal. The acquisition, which is likely to be worth $250 million or more, will quickly insert Lyft into the small but fast-growing U.S. bike-sharing market.

The two companies have agreed on the terms of the deal, although it hasn’t been finalized, one of these people said. If a deal is consummated, it would put Lyft ahead of ride-sharing rival Uber, which acquired another bike-share service called Jump in April for around $200 million…(more)

That is what we really need on our streets. A takeover by Lyft and Uber. No doubt Conway has his fingers in this pie and will grease the wheels of the PUC and anyone else who needs convincing that Lyft and Uber are going to make them rich, or whatever motivates the sell-out to tech.

We called it the corporatization of our streets, and that is what it looks like. Lyft and Uber are the new Airbnb menace. There is no point in new entrepreneurs coming to set up shop in SF and because if there is am app that has not been crated to extract money out of our streets, these geniuses will invent it.

I suspect we will see a lot more street actions and disrupted traffic as soon as people figure it out. The only play voters have, is to oppose Regional Measure 3 and all the tax and bond proposals to pay for their roads. Don’t give them any more money. The 11 billion dollar budget is enuf. (Hope that is a typo and the real figure is still 10 billion.)

When you vote for Mayor and Governor think about who is most likely to support the public instead of corporations.