Lyft completes purchase of Motivate, unveils new bike and invests $100 million in NYC’s Citi Bike program

NEW YORK (BRAIN) — Ride share company Lyft has completed its purchase of Motivate, the country’s largest bike share company. The purchase was originally announced in July. 

As it completes the purchase, Lyft has announced that it will invest $100 million in New York’s Citi Bike program, which is operated by Motivate. Officials from Lyft and Motivate, along with New York Mayor Bill de Blasio, announced Friday that the investment will triple the size of the Citi Bike system, adding 40,000 new bikes.