Lyft announced on April 16, 2025, a definitive agreement to acquire FREENOW, a leading European multi-mobility app, from BMW Group and Mercedes-Benz Mobility for approximately €175 million ($197 million) in cash. This acquisition marks Lyft's first significant expansion into the European market.
The deal is expected to nearly double Lyft's total addressable market to over 300 billion personal vehicle trips annually, from approximately 161 billion. FREENOW operates in over 150 cities across nine European countries and is anticipated to add about $1.14 billion in annualized gross bookings.
This strategic move diversifies Lyft's geographical presence beyond North America and positions it against rivals like Uber in Europe. The acquisition is slated to close in the second half of 2025 and is expected to contribute to Lyft's long-term growth and profitability targets.
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