US EditionLyft buys European taxi app FreeNow in €175mn deal
- Lyft will acquire FREENOW, a large European mobility app, for nearly $197 million, confirmed on Tuesday.
- Lyft seeks to expand internationally and compete with Uber by entering the European ride-hailing market.
- FREENOW, previously owned by BMW and Mercedes-Benz, has a strong taxi network across nine European countries and over 150 cities.
- Lyft CEO David Risher stated, "We're on an ambitious path to build the best...mobility platform in the world."
- The acquisition, pending regulatory approval and expected to finalize in the second half of 2025, will nearly double Lyft's addressable market.
40 Articles
40 Articles
Lyft acquires the Hamburg taxi app Freenow for 175 million dollars and thus enters the European market. The acquisition enables Lyft to enter into new partnerships and strengthens its position in passenger transport.
US rideshare firm Lyft snaps up German rival Freenow
BERLIN, Germany — US ride-sharing firm Lyft said Wednesday it had agreed to buy German taxi app Freenow, planting a flag in the European market. Lyft said it had signed a deal to acquire Freenow from its current owners, German carmakers BMW and Mercedes-Benz, for 175 million euros ($199 million). “Entering Europe is an important
German automakers Mercedes-Benz and BMW are selling their taxi app Freenow to the U.S. travel agent Lyft by around 175 million euros. The transaction will be concluded, assuming the approval of the authorities is expected for the second half of 2025, Freenow announced on Wednesday. It is the largest acquisition of Lyft outside North America so far. The purchase of Freenow will bring Lyft into the European market. Lyft expects to increase its ann…
Lyft gets a toehold in Europe with FreeNow acquisition
Lyft said it is acquiring mobility platform FreeNow, giving the ridehailing company its first major presence in Europe after years of operating exclusively in the US and Canada. FreeNow aggregates taxis alongside private vehicles, including luxury rides. The acquisition of FreeNow nearly doubles Lyft’s potential market and will aide the company as it seeks to compete with the dominant player in ridehailing, Uber. While Lyft oversees several bike…
Lyft Stock Gains As FreeNow Deal Will Expand Ride-Hail Company To Europe
Lyft stock gained on news the ride-hail company is expanding to Europe through a deal to buy taxi app FreeNow. The post Lyft Stock Gains As FreeNow Deal Will Expand Ride-Hail Company To Europe appeared first on Investor's Business Daily.
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