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Lyft Expands in Europe, Diversifies by Acquiring FREENOW

1. LYFT to acquire FREENOW for $197 million, expanding European market presence.

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+2.25%Current Return
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-1.35%S&P 500
$10.8904/16 08:05 AM EDTEvent Start
$11.13504/17 02:27 PM EDTLatest Updated
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FAQ

Why Bullish?

The acquisition signals strategic growth and potential revenue increase for LYFT in Europe, mirroring previous successful expansions by firms like Uber, which positively affected their stock prices.

How important is it?

This acquisition could lead to substantial revenue growth and market enhancement, increasing investor confidence and affecting LYFT's stock performance positively.

Why Long Term?

Acquisitions generally yield long-term benefits as they enhance market share and operational capabilities, similar to Lyft's past collaborations and market integrations.

Related Companies

UBERDIDI
SAN FRANCISCO & HAMBURG, Germany--(BUSINESS WIRE)--Lyft, Inc. (Nasdaq: LYFT), a leading ride hailing marketplace, today announced it has entered into a definitive agreement to acquire FREENOW, a leading European multi-mobility app with a taxi offering at its core, from BMW Group and Mercedes-Benz Mobility for approximately €175 million or $197 million* in cash. FREENOW will continue operating as it does today, with its talented leadership team and employees in place to drive growth across 9 cou.

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