In a bold move to expand its global footprint, Lyft has announced its acquisition of FREENOW, a leading European ride-hailing and taxi app. This marks Lyft’s most significant expansion outside North America, positioning the company for major growth across the Atlantic.
📍 What’s the Deal?
Lyft is acquiring FREENOW from BMW Group and Mercedes-Benz Mobility for approximately €175 million (~$197 million) in cash. FREENOW will continue operating under its current leadership, serving more than 150 cities across 9 European countries, including major markets like the UK, Germany, France, Italy, and more.
🚗 Why FREENOW?
FREENOW is a powerhouse in the European mobility scene. It’s the top taxi platform in key cities like London, Berlin, Madrid, Athens, and Hamburg, with a strong focus on taxis—making up 90% of its gross bookings in 2024. Even more compelling: about 50% of taxi rides in Europe still happen offline, creating a huge opportunity for digital growth.
🌍 What Lyft Gains
By joining forces, Lyft:
-
Nearly doubles its total market reach, targeting over 300 billion vehicle trips annually.
-
Adds €1 billion in annual gross bookings.
-
Diversifies its revenue streams beyond North America.
-
Begins serving a combined 50+ million annual riders alongside FREENOW.
This move solidifies Lyft’s long-term strategy: to become a customer-obsessed, global mobility platform.
🤝 A Match That Makes Sense
This partnership isn’t just strategic—it’s complementary.
-
FREENOW brings deep local knowledge, strong ties with regulators and taxi unions, and a robust European presence.
-
Lyft brings tech innovation, powerful marketplace experience, and industry-leading features for both drivers and riders.
Together, the companies aim to:
-
Offer more consistent pricing and faster ride matching.
-
Provide drivers with better tools, including transparent earnings insights.
-
Eventually allow riders to seamlessly use either app on both sides of the Atlantic.
🇬🇷 What About Greece?
Yes—Lyft will be in Thessaloniki! FREENOW currently operates there, and since the app and its services remain active post-acquisition, riders and drivers in Thessaloniki can expect even more robust features and benefits in the near future.
⏳ What’s Next?
-
The acquisition is expected to close in the second half of 2025.
-
No immediate changes are planned for FREENOW users, but integrations and enhancements will roll out over time.
-
Lyft will share more during its Q1 2025 earnings call in May.
Final Thoughts
This move isn’t just a business deal—it’s a signal. Lyft is stepping up to become a global player, and Europe is just the beginning. With its taxi-first focus and growing demand for digital mobility, FREENOW gives Lyft the perfect runway to take off.
Stay tuned as we watch this new era of urban transport unfold across cities from San Francisco to Thessaloniki.