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Citi Bike Gets People Out of Cars and Now That's Bad for Citi Bike

• donohoe 3y ago
  In short, CitiBike is so successful in New York City that Lyft, which bought it five years ago, believes it's cannibalizing its car-based ridesharing ("a distraction from the company’s core business") and now wants to sell it.
  • Someone 3y ago
    That runs the risk that the buyer keeps that business running and takes the money. They must think they won’t be able to do that because they loose the link with Lyft’s car business. Why would that work? Does Lyft run CitiBike at a loss and expect it to be less successful on its own because it will have to raise prices?