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February 22, 2019

Citi Bike growing with $100M from Lyft

November 29, 2018
The blue bike share program will use the investment to double in size and triple its bike fleet to 40,000 rides, according to city officials. (iStock / Getty Images)

Citi Bike is getting a $100 million Lyft from its new owners.

The blue bike share program – now owned by Lyft, the pink mustache ehaul service – will use the investment to double in size in 35 square miles and triple its bike fleet to 40,000 rides, according to city officials.

“As a safe, sustainable, and affordable way to get around, cycling in New York City is growing faster than any other mode of travel,” Transportation Commissioner Polly Trottenberg said in a statement. “And with today’s announcement, riding a Citi Bike will be an even more convenient way to get to a vastly larger share of the city.”

There are no locations identified for the expansion, or whether it’ll cover all five boroughs.

Citi Bike has chance to bring its dockless rides to Brooklyn, Queens and Staten Island under a city pilot program.

“Together with NYC DOT, we will improve mobility in New York City through an equitable expansion of new and existing technologies,” Lyft co-founder and president John Zimmer. “Today’s announcement marks a major milestone in Lyft’s growth as a sustainable transportation service that connects communities, and reduces unnecessary driving in urban centers.”

Lyft’s rival, Uber – owner of Jump bikes – said Citi Bike has left Staten Island and the Bronx in the dust.

The bike share rival said it could bring 10,000 e-bikes to the Bronx and Staten Island, and t10,000 more e-bikes to Queens and Brooklyn before the L-train shutdown.

“After five years of operating in wealthier NYC communities, Citi Bike is now asking for another five years to expand and is still not committing to serve all New Yorkers,” Uber spokeswoman Alix Anfang said in a statement. “The city should work with all parties to ensure access to everyone who wants to ride a bike to get around their communities – not one company which has long left outer borough New Yorkers stranded.”

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