Lyft doubles micromobility footprint with PBSC acquisition – TechCrunch

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Lyft has signed an settlement to accumulate PBSC City Options, a Canadian provider for bikeshare tools in expertise, in a transfer that the corporate says will double its scale in micromobility.

The ride-hailing firm is on a mission to extend its micromobility footprint. Final month, Lyft partnered with Tier-owned Spin to convey Spin’s electric scooters to the Lyft app in 60 U.S. markets by the tip of the yr. The PBSC acquisition, which Lyft announced on Tuesday, will convey to Lyft’s repertoire the corporate’s 7,500 stations and 95,000 bikes which might be scattered all through 45 markets in 15 nations.

Lyft at the moment operates bikeshare in 10 cities, in addition to a scooter share in San Diego. Lyft expects this deal to convey that quantity as much as 50.

“Forging a greater option to serve each cities and riders with the perfect bike and scooter sharing programs has lengthy been a part of our imaginative and prescient,” stated David Foster, head of transit, bikes and scooters at Lyft, in an announcement. “Our settlement to accumulate PBSC will assist us ship world-class merchandise and experiences to riders within the largest cities around the globe within the coming decade.”

Protecting branding constant shouldn’t be troublesome with this purchase — Lyft’s docks and bikes are similar-looking to PBSC’s, which Lyft attributes to utilizing personalized variations of PBSC’s {hardware} designs that they pioneered.

This isn’t the primary time Lyft has acquired a bikeshare firm. In 2018, Lyft acquired Encourage and all of its present contracts, together with Citi Bike in New York Metropolis. Citi Bike now has greater than 24,000 bikes which have seen over 28 million rides in 2021.

Whereas many bikeshare applications are free-floating, PBSC, like Lyft, has had a station-based method, which Lyft says creates predictability and order within the public proper of manner for pedestrians.

Lyft wouldn’t share the phrases of the deal, which is predicted to shut by the tip of the second quarter.

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