In a significant strategic move, Lyft has agreed to acquire FREENOW, a leading German multi-mobility app, for $197 million from BMW and Mercedes-Benz Mobility. This acquisition marks Lyft's entry into the European market, where FREENOW operates across nine countries. Lyft aims to almost double their total addressable market and increase annualized gross bookings significantly. CEO David Risher highlighted the alignment between Lyft's values and FREENOW's local-first approach as a catalyst for their growth strategy. The deal is expected to close in late 2025, with plans for future integration of both platforms.
Lyft's acquisition of FREENOW marks its entry into the European market, expanding its reach and significantly increasing its total addressable market and annualized gross bookings.
David Risher, CEO of Lyft, emphasized the importance of the partnership, highlighting FREENOW's local-first approach as aligning with Lyft's core values and mission.
The deal, worth approximately $197 million, is expected to close in late 2025, signaling Lyft's strategic growth beyond the North American market.
BMW and Mercedes-Benz Mobility will continue to prioritize their core operations while moving towards electrification, AI, and decarbonization in their business strategies.
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