Lyft Inches up on Wrapping up FREENOW Acquisition
Lyft, Inc. (NASDAQ: LYFT) today announced it has completed its acquisition of FREENOW, creating one of the top global multi-mobility apps.
“Lyft’s purpose,” reads this morning’s news release, “is to serve and connect. United by shared values and customer obsession, Lyft and FREENOW will join forces to seize the incredible opportunity of doubling Lyft’s current addressable market to more than 300 billion personal vehicle trips per year.”
The Lyft app has reportedly been opened 4.6 million times since the start of 2024 within FREENOW’s markets.
The FREENOW app has been opened 1.2 million times since the start of 2024 within Lyft’s markets.
“Every conversation I've had with FREENOW drivers and team members has reminded me why we’re joining forces: to bring the best of each company to the other,” said Lyft CEO David Risher. “This isn't just about growing our business. It's about serving and connecting people worldwide.”
The advantages include more rides, therefore, more riders. With the Lyft riders having a preferred app in Europe, drivers can expect more rides, and vice versa for drivers in North America.
Lastly, the ride share service claims that in the U.S., there is a 29-point percentage gap in drivers who prefer Lyft over the other competitor as of Q2 2025.
LYFT shares gained a dime to $14.12.
