The Lyft logo is visible on this illustration on June 27, 2022.
Data Ruvic Reuters
US Heling companies Lyft On Wednesday, he announced that he was buying a European taxi application for free in a contract by 175 million euros (199 million dollars).
The company stated that the takeover – the first Lyft in Europe – is to be closed in the second half of 2025, and after merger, both companies will serve over 50 million users in total.
Founded in 2009 as mytaxi, Free Now is a riding platform based in Hamburg, Germany. The company is jointly owned by the German automotive Giants BMW and Mercedes-Benz since 2019.
The application is available in over 150 cities in nine countries, including Ireland, Great Britain, Germany and France. In addition to traditional taxi and driving services, Free now offers other mobility options, including e-scooter, e-moped and e-verse.
Free now is the owner of the German BMW and Mercedes-Benz automotive giants since 2016.
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The startup is positive from earnings based on profits before interest, debt and depreciation, generating gross reservations over EUR 1 billion in 2024, according to the company's information sheet.
Acquiring for free now Da Lyft a route to extend to a highly competitive European market, where it will be contrary to such as UberBolt Estonia and Israel.
The closest national rival of Lyft, Uber, has a long advantage in the company, for the first time began in Great Britain in 2012. Since then, it has been harassed by a series of regulatory problems.
London transport organs tried to prohibit Uber twice as to security related problems. The company finally received a new license to continue operating in the city in 2022.