The acquisition, in which the value of the transaction is 175 million euros, will allow Lyft to expand its activity by 11 countries, including Germany, Great Britain, Ireland, Greece, Spain, Italy, France and Austria. This is an important step of Lyft on the international market that introduces a company outside North America.
In connection with the takeover of Freenow Lyft, it ensures that this brand will not disappear and will continue its activity under the new owner. The platform is to preserve the current management team and employees. Freenow, which was previously present in nine European countries and offered transport services with taxis, scooters and car-sharing, will continue to operate in over 150 cities. The presence of freeow in Poland, next to such players as Uber, Bolt or iTaxi, gives Lyft a strong position on the transport services market.
The added value of this transaction is the extension of the LYFT range to European markets, where applications for ordering journeys are becoming more and more popular. In Europe, still about 50 percent The ordered journeys are traditionally, offline. In Poland, this number drops to about 30 percent, which shows the growing share of internet platforms. Lyft hopes that joint activities with Freenow will allow you to handle over 50 million passengers a year, and will also increase the gross booking value by about EUR 1 billion.
Among the declarations of LYFT representatives, special attention is paid by the statement of David Risher, the general director of the company, who points out that the entrance to Europe is a milestone on the way to the creation of a global mobility platform. Risher emphasized that cooperation with Freenow will be crucial for the implementation of the company's ambitious strategy, enabling further growth.
- Couriers a revolution awaits? “You have to think seriously about the future”
Lyft is aiming at the European market
Lyft, founded in 2012, gained popularity as an alternative to Uber on the American market, offering transport services over short distances in cities. The platform comes from the previous Zimride project, founded in 2007 by Logan Green and John Zimmer. Zimride initially offered joint journeys on long routes, mainly in the academic environment. The change of name to Lyft took place a few years later, and the company directed its activity on short -distance city journeys, focusing on the private transport market.
Thanks to the takeover of freeow, Lyft significantly increases its chances of gaining a larger share in the European transport marketespecially in cities such as Dublin, London, Madrid, Berlin, Barcelona, Hamburg and Athens, where Freenow is already a leading player. Importantly, this merger will allow Lyft to combine experience and resources, which will strengthen its position on the mobility market in Europe and allow dynamic development.
