Overview

• Lyft has agreed to acquire FreeNow, a European mobility platform, from BMW and Mercedes-Benz for approximately $200 million.
• This acquisition will give Lyft a presence in over 150 cities across nine European countries, including London, Paris, and Milan.
• FreeNow’s diverse mobility offerings, including traditional taxis, e-scooters, and e-bikes, complement Lyft’s existing services.
• The merger is projected to nearly double Lyft’s addressable market to over 300 billion personal vehicle trips annually.
• FreeNow’s strong performance, including break-even status and 13% revenue growth in 2024, makes it a strategic acquisition for Lyft.