Lyft acquisition news – Lyft Announce Acquisition of German Mobility Platform FREENOW

FREENOW will continue operating as it does today, with its talented leadership team and employees in place to drive growth across 9 countries and over 150 cities across Ireland, the United Kingdom, Germany, Greece, Spain, Italy, Poland, France, and Austria. The transaction is expected to close in the second half of 2025, subject to customary closing conditions.

Lyft found in FREENOW a partner to immediately fuel its growth strategy, unlock potential for partners, and level up the experience for drivers and riders alike.

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This marks Lyft’s most significant expansion outside North America, nearly doubling Lyft’s total addressable market to more than 300 billion personal vehicle trips per year, increasing annualized Gross Bookings by approximately €1 billion, diversifying revenue streams, and supporting Lyft’s multi-year targets.

David Risher, CEO of Lyft said, “We’re on an ambitious path to build the best, most customer-obsessed mobility platform in the world, and entering Europe is an important step in our growth journey, We found the perfect partner in FREENOW and can learn a lot from the team. FREENOW's local-first approach mirrors Lyft's values and embodies our purpose — to serve and connect.”

FREENOW brings market-leading European taxi expertise, fleet technology and strong relationships with regulators, unions and taxi fleet operators in every market. Lyft brings best-in-class marketplace expertise and customer-obsessed features.

The business models are complementary and together will serve over 50 million combined annual riders, with plans to deliver a better product experience, improve service levels, strengthen fleet management capabilities, and bring greater global opportunities to existing and potential partners.

FREENOW CEO Thomas Zimmermann said, “Joining forces with Lyft is a powerful step forward for FREENOW and marks the beginning of an ambitious new phase—one where we strengthen our role as a leading force in European mobility, Lyft's strong, customer-first track record aligns perfectly with our deep roots in the taxi industry, and together we will push boundaries and raise expectations for fleet owners, taxi drivers, and riders across the continent. We stand with the industry—not above it—and remain proud partners of the community. This collaboration is about combining our strengths, learning from each other, and scaling what works best. We sincerely thank our former shareholders for their trust and enduring partnership throughout the years.”

The strategic acquisition is aligned with Lyft’s disciplined capital allocation strategy of investing in attractive growth opportunities with a customer-obsessed bias. The announcement follows a record-breaking year in 2024 for Lyft, with industry-leading service levels in Q4, record Gross Bookings, GAAP profitability, and record cash flow generation.

About Lyft

In 2012, Lyft was founded as one of the first ridesharing communities in the United States, and is available today in the United States and Canada. Now, millions of drivers have chosen to earn on billions of rides. Lyft offers rideshare, bikes, and scooters all in one app — for a more connected world, with transportation for everyone.