Lyft follows Uber into bike-sharing business with deal to buy Motivate

Lyft has acquired Motivate the company that runs Washington's Capital Bike Share and several other big-city bike-share programs

The financial terms of the deal were not disclosed, but is estimated to be worth $250 million.

Motivate is the company behind numerous most popular urban bike-share programs in the United States, such as Citi Bike in New York, Ford GoBike in San Francisco, Blue Bikes in Boston, and Capital Bikeshare in Washington DC.

The deal comes three months after Uber bought Jump Bikes, a startup that rents out electric "dockless" bikes in about half a dozen U.S. cities.

"Lyft and Motivate have both been committed for years to the same goal of reducing the need for personal auto ownership by providing reliable and affordable ways to move around our cities", John Zimmer, Lyft co-founder and president, said in a blog post. Dockless bikes can be found and unlocked via a mobile app, and then deposited anywhere after a trip.

Ride-hailing companies have indicated they want to make their apps one-stop shops for mobility, enabling users to select a destination and use the appropriate mode of transportation - whether solo or pooled ride, bike or, perhaps scooter - to get there. The ride-hailing rivals are also competing in the scooter-sharing market. Motivate operates Divvy in Chicago, Citi Bike in NY and Capital Bikeshare in Washington DC, among other brands. Venture capitalists have put more than $2.5 billion behind dockess bike-share companies, with Chinese companies Ofo and Mobike leading the group. On Monday, Lyft revealed it would throw its hat into another ring: Bike-sharing. Motivate's bike maintenance operation will split out into an independent business, but will still service Lyft Bikes bicycles.

Some parts of business will run as usual for the newly acquired company.

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