Lyft announced on Monday that it will acquire Motivate, a dockless and electric bike operator located in major cities across the United States including San Francisco, Boston, and Chicago.
The deal is part of an expansion plan that will place bikeshare systems across the United States. The new offering will help Lyft with its carbon neutrality pledge, an initiative which looks to offset carbon emissions from all Lyft rides globally.
As part of the deal, Lyft will acquire Motivate’s technology and corporate functions, including its city contracts.
Financial terms of the deal were not disclosed.
Califa Farms a Plant-Based Beverage Company Secures Over $50 Million in New Funding
Company Press Release
The new funds will help the company expand its manufacturing capacity, develop its go-to-market strategy, and help it market new products.
The round was led by Ambrosia Investments and existing investors, Sun Pacific and Stripes Group.
The company also announced on Monday that it has appointed Sandeep Patel as its new CEO.
Patel previously worked at Barclays and Goldman Sachs as a Managing Director where he advised corporate clients on strategic and financing matters specific to the food, beverage, and agriculture space.
Dell Plans to Go Public
Company News Release
The company announced on Monday that it will be converting Class V Common Stock into Class C Common Stock, a transaction with a market cap of $21.7 billion.
The move marks 5 years since the company went private in 2013.
The new stock will be listed on the New York Stock Exchange.
The company announced on Monday that Roger Federer will become its newest Global Brand Ambassador.
Federer will represent UNIQLO at all tennis tournaments throughout the year, beginning with Wimbledon.
Financial terms were not disclosed, however, ESPN reported on Monday citing sources familiar with the matter that the deal is worth more than $300 million.
Federer’s previous deal with Nike expired in March of this year.