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Lyft Takes the Leap Across the Atlantic

$200M Acquisition of Free Now Signals Global Growth Ambitions

In a bold move to expand its global footprint, U.S. ride-hailing giant Lyft announced plans to acquire European taxi and mobility app Free Now in a €175 million (approximately $199 million) deal. This marks Lyft’s first-ever acquisition in Europe, setting the stage for a major push into a market long dominated by competitors like Uber, Bolt, and Gett.

The deal is expected to close in the second half of 2025, subject to regulatory approvals. Once complete, the combined platforms will serve an impressive 50 million+ annual riders across Europe and North America.

Who Is Free Now?

Originally launched in 2009 as “myTaxi”, Free Now is a Hamburg-based platform that has evolved into one of Europe’s most diverse urban mobility apps. Owned jointly by BMW and Mercedes-Benz since 2019, Free Now operates in over 150 cities across nine countries, including:

• Germany
• France
• United Kingdom
• Ireland
• Spain
• Portugal
• Italy
• Poland
• Austria

The company has expanded well beyond traditional ride-hailing, offering e-scooters, e-bikes, e-mopeds, and car-sharing options, making it one of Europe’s most comprehensive multi-modal platforms. According to recent company data, Free Now generated over €1 billion in gross bookings in 2024 and is profitable on an EBITDA basis—a rare accomplishment in the ride-hailing space.

Why Now? Lyft CEO Explains the Timing

Lyft CEO David Risher, who took the reins in 2023, believes the company is finally ready to take on international markets.

“When I started, unfortunately, we were losing share, losing money, and failing both riders and drivers,” Risher told CNBC.
“Now, we pick up passengers a minute faster, driver cancellations are under 5%, and drivers are earning billions annually. Our Canadian operations alone doubled year-over-year.”

With the North American business stabilizing and even thriving, Risher says the time is right:

“Looking at our progress, we said: ‘You know what, now is the time.’”

Entering a Crowded European Market

Lyft's European debut is bound to stir up the already competitive ride-hailing landscape. The company will face formidable opponents:

• Uber, which entered the UK in 2012 and has faced years of regulatory scrutiny, including two attempted bans in London.
• Bolt, an Estonian startup expanding rapidly across Europe.
• Gett, an Israel-based company focused on corporate ride services.

Despite the competition, Free Now’s deep regional integration and variety of transport modes give Lyft a strong foundation for success.

Strategic Synergies and What Comes Next

While specific post-acquisition plans haven't been detailed, insiders suggest Lyft will look to integrate Free Now’s tech and mobility services with its North American platform. The acquisition:

• Instantly provides Lyft with access to millions of European users,
• Offers on-the-ground experience navigating complex European regulations,
• And opens the door for new revenue streams from micro-mobility and shared transport.

Risher hinted that more global expansions could follow if the European strategy proves successful.

A Glimpse into the Future

As Lyft and Free Now join forces, the global ride-hailing sector braces for its next phase of evolution—one that’s less about just car rides, and more about multi-modal, sustainable, and localized urban transport.

Whether Lyft can gain significant ground against established players remains to be seen. But one thing is clear: the company's ambitions now stretch far beyond U.S. borders.

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