Uber and Lyft came to prominence with their ride-hailing services. But increasingly they’re betting on other modes of transportation — with the aim of becoming the only service people need to get around cities.
Lyft on Monday struck a deal to buy the core parts of Motivate, the parent company of CitiBike in New York and seven other bike-sharing programs around the United States. At first, that acquisition may seem puzzling — why would a ride-hailing giant want to get into the far smaller market for bicycles? — but there’s a bigger idea at work here.
