Lyft is set to acquire FreeNow, a major player in the European mobility sector, for approximately $198 million, which will enhance Lyft's market presence outside North America. This acquisition is significant as it nearly doubles Lyft's potential customers and strengthens its market position against Uber. FreeNow operates across over 150 cities in Europe, integrating taxis and luxury rides, where taxis make up 90% of its bookings. Lyft aims to focus on being a comprehensive mobility platform as it enters this competitive market.
"We're on an ambitious path to build the best, most customer-obsessed mobility platform in the world, and entering Europe is an important step in our growth journey."
"Entering Europe is an important step in our growth journey."
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