Citibike Flashcards
Citibike Purchase
Lyft purchased in 2018 from Motivate for a “REPORTED $250M”
NA Bike Share
So parts of the North America story start in 2009 in Montreal, actually with their parking authority, the MPA. And they decided that they wanted to bring bike-share to Montreal and to model it off of the Vélib’ system in Paris. And they called the program Bixi and then hired a local operator called 8D to do the software side of the work, who’d been kind of providing software for their parking operations and things like that. This combination of the city deciding to do this work, bringing in a software operator, and then the city doing the hardware side became some of the foundation for some of the programs that we have in North American and that have scaled globally. And the hardware side of the business ended up getting spun out a little bit later and was called the Public Bike System Company or PBSC.
Citi Bike Founding
Bikes and stations also. When we fast forward a couple years to New York City and the launch of Citi Bike, Citi Bike was founded at the urging of New York City DOT. So again, public sector playing a major role in imagining a new transportation system being brought to New York City. The commissioner, Janette Sadik-Khan, after a visit to London, rode Boris Bikes—obviously now Santander—and was like, this is an incredible system, we need it for New York. And so came back to New York City, set up an RFP, found a private operator, and was even instrumental to thinking through the early sponsorship agreements to get the system off the ground.
Lyft Citibike adoption?
since the time of that integration, which was mid-2019 until today, we’ve had 2.5 million formerly ride-share only riders try out a bike and scooter for the first time, build habit, and become regular riders.
Citi Bike last year adoption
and we had about 850,000 new riders try Citi Bike for the first time last year
Lyft own and operate?
about 15 markets lyft own and operate ourselves.
Lyft recently bought PBSC with presence in
45 cities globally. about 60 markets total lyft and pbsc.
contract like a bike-share between Lyft, Citi Bike, and New York works?
success requires public and private to come together and think about a long-term partnership
both mutally invested
diferent flavors of structuring contracts
NYC - private operator invest in all hardware aspects of the system. stations, bikes, etc. own all ops risk. in turn contract with the city. NYC has depreciation!?
NYC city’s role includes…
Station Density - 5 minute walk anywhere in the city. Planned by DoT.
Network Design - thinking about robust transit connections. More than 90% of folks connect take a bike to public transit over the course of a year
60% on a weekly basis have same behavior
multimodel sustainable behavior doens’t happen by accident. density was planned around transit hubs!
third - public street infrastructure. bike lanes. 600 miles of protected lanes. Mayro adams committed dto another $1b earlier this year (2022-23)
30 miles per year commitment next cpl years.
goal by 2050
have 10% of trips in nyc occur via bike so 10% of roadway
lyfts role
Tech: HW SW
HW - durability - still have bikes on street after 10 years.
SW - how to navigate? How many stations visited? How do you rank against riders, bike angels, etc.? helping ops team route really effectively on battery swapping, rebalancing based on algo.
NYC Contract
10 years exclusive rights in NYC. No $ just permission. lyft does tech., capital, operations etc. citibike fees go to lyft.
That money goes back to funding expansion for lyft.
