Lyft Goes Global: FREENOW Acquisition Complete

SAN FRANCISCO & HAMBURG, Germany--(BUSINESS WIRE)--Jul 31, 2025--

Lyft, Inc. (Nasdaq: LYFT) today announced it has completed its acquisition of FREENOW, creating one of the top global multi-mobility apps.

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Lyft’s purpose is to serve and connect. United by shared values and customer obsession, Lyft and FREENOW will join forces to seize the incredible opportunity of doubling Lyft’s current addressable market to more than 300 billion personal vehicle trips per year.

“Every conversation I've had with FREENOW drivers and team members has reminded me why we’re joining forces: to bring the best of each company to the other,” said Lyft CEO David Risher. “This isn't just about growing our business. It's about serving and connecting people worldwide.”

“We’re not changing what makes FREENOW special - our deep local relationships throughout Europe - but we are amplifying it,” said FREENOW CEO Thomas Zimmermann. “With Lyft’s platform and resources behind us, we can innovate faster and serve drivers, passengers, and city partners even better.”

What’s next for riders

What’s next for drivers

What’s next for the companies

Both teams will work together to bring the best of both companies to the global Lyft ecosystem.

Everything the company does will be fueled by its purpose and continued customer obsession to benefit riders and drivers.

FREENOW CEO Thomas Zimmermann and his leadership team will report to Jeremy Bird, EVP of Driver Experience at Lyft. The FREENOW country general managers will continue to strategically lead operations in Ireland, the United Kingdom, Germany, Greece, Spain, Italy, Poland, France, and Austria.

"As we expand internationally, our customer-obsession won't change. That's part of what made FREENOW such a good fit," said Jeremy Bird, Lyft EVP of Driver Experience. "Our integration approach centers on respecting what makes FREENOW successful - the talented team, unique needs of each local market, and the relationships with fleet owners, taxi drivers, and riders across the continent. By leveraging and building on these strengths, we’re laying the foundation for long-term and sustainable growth and better experiences for drivers and riders alike.”

Lyft and FREENOW team members will start working side by side to roll out new features for riders and drivers around the world.

The acquisition will not impact Lyft’s Q2 financial results.

New global footprint

In total, Lyft now operates rideshare and taxi mobility services in 11 countries and nearly 1,000 cities, and supports bikeshare operations through Lyft Urban Solutions in 16 countries and over 86 cities. Since April 2025:

About Lyft

Whether it’s an everyday commute or a journey that changes everything, Lyft is driven by our purpose: to serve and connect. Founded in 2012, Lyft has grown into a global mobility platform offering rideshare, taxis, private hire vehicles, car sharing, bikes, and scooters across North America and Europe. Lyft operates across 11 countries and in nearly 1,000 cities, and Lyft Urban Solutions supports bikesharing in 16 countries and more than 86 cities. Today, millions of drivers have chosen to earn on billions of rides - helping to create a more connected world, with transportation for everyone.

FREENOW by Lyft is the European taxi app featuring broad multi-mobility options. Through FREENOW, passengers can access various mobility services within a single app, including taxis, private hire vehicles, carsharing, car rental, e-scooters, e-bikes, e-mopeds, and public transport.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Lyft's future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates,” “going to,” "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Lyft's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding the acquisition of FREENOW including the expected benefits of the transaction, the timing of those benefits and the availability of the Lyft App in Europe, the addressable market of the combined company, the future operations of Lyft, FREENOW and plans and expectations for the combined company. Lyft’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the macroeconomic environment, risks and uncertainties related to the acquisition of FREENOW; failure to realize the expected benefits and synergies of the proposed transaction in the expected timeframes or at all; and changes in the regulatory environment that impact Lyft and FREENOW. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Lyft's filings with the Securities and Exchange Commission (“SEC”), including in our Quarterly Report on Form 10-Q for the first quarter of 2025 that was filed with the SEC on May 9, 2025. The forward-looking statements in this release are based on information available to Lyft as of the date hereof, and Lyft disclaims any obligation to update any forward-looking statements, except as required by law. This press release discusses “customers”. For rideshare, there are two customers in every car - the driver is Lyft’s customer, and the rider is the driver’s customer. We care about both.

Lyft and FREENOW

FREENOW CEO Thomas Zimmermann and Lyft CEO David Risher

NEW YORK (AP) — U.S. stocks are trimming their losses from a rocky June on Tuesday.

The S&P 500 rose 0.8%, though it's still heading for its first losing month following two fabulous ones. The Dow Jones Industrial Average was up 140 points, or 0.3%, as of 2:20 p.m. Eastern time, and the Nasdaq composite was 1.4% higher.

The main reason for this month’s weakness has been a fall to Earth for stocks in the artificial-intelligence industry. After soaring to tremendous heights in the frenzy around AI, such stocks have come under pressure because of worries that they shot too high. That’s a big deal for all investors because AI stocks have grown into some of Wall Street’s largest and most influential, pulling indexes behind them.

AI stocks were stronger Tuesday, with Nvidia rising 2% to trim its loss for the month. It was one of the strongest forces lifting the S&P 500.

Microsoft, which is investing heavily in AI, rose 0.6% to bring its loss for the month back below 18%. Oracle, though, fell 0.8% to bring its drop for June to 35%. It's another company contending with concerns that big spending on AI may not yield enough productivity and profits to make it worth it.

Outside of AI, the economy seems to be rumbling along, even though U.S. households are still feeling sour about it. A report released in the morning said that U.S. employers were advertising many more job openings at the end of May than economists expected, the latest signal that the job market remains resilient.

But a second report said that confidence among U.S. consumers improved by less than economists expected. More Americans are saying it's hard to get a job, according to a survey by the Conference Board, even with data suggesting continued hiring.

Tuesday's relatively quiet trading came as companies close their books for the quarter running from April through June. Investors want to see strong growth in profits to justify the big gains stocks made early in the quarter. Despite June’s drop, the S&P 500 is still on track for its best quarter since six years ago, when stocks rocketed out of the crash caused by the COVID pandemic.

Concentrix tumbled 13.1% after the technology company reported profit and revenue for the latest quarter that were just shy of analysts’ expectations.

In the oil market, prices drifted as two U.S. envoys arrived in Qatar for talks with mediators about the implementation of an initial deal to end the war in Iran. The Americans will not be having direct negotiations with Iranian diplomats while in Doha.

The price for a barrel of Brent crude oil, the international standard, erased an early, modest rise and fell 1.1% to $73.12. The hope is that an end to the war will restore full access to the Strait of Hormuz, allowing oil tankers to move more crude and lower its price.

Expensive oil has already sent inflation jumping around the world, which in turn has raised worries that the Federal Reserve and other central banks may have to raise interest rates. Higher rates would keep a lid on inflation, but they would also slow economic growth and hurt prices for investments.

The yield on the 10-year Treasury rose to 4.41% from 4.38% late Monday.

In stock markets abroad, indexes rose across much of Europe and Asia.

Germany’s DAX returned 1.5%, and South Korea’s Kospi climbed 1% for two of the world's bigger gains.

Japan’s Nikkei 225 rose 0.9% as the value of the Japanese yen dropped near its lowest level against the U.S. dollar in 40 years.

U.S. government bonds are paying much higher yields than their Japanese counterparts, and the possibility of rate hikes by the Fed is putting more pressure on the yen. Speculation is rising that Japan’s government may try to prop up the yen’s value, but Japan’s finance minister said only that the government was ready to “respond appropriately whenever necessary.”

AP Business Writers Chan Ho-him and Elaine Kurtenbach contributed to this report.

Specialist Michael Pistillo works on the floor of the New York Stock Exchange, Friday, June 26, 2026. (AP Photo/Richard Drew)

A man walks past a monitor showing stock prices of companies on the Tokyo Stock Exchange in Tokyo, Tuesday, June 23, 2026. (AP Photo/Hiro Komae)

A huge screen shows the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Monday, June 29, 2026. (AP Photo/Lee Jin-man)

An electronic board shows Japan's benchmark Nikkei 225 index, bottom, and exchange rate of the Japanese yen against the U.S. dollar in Tokyo Tuesday, June 30, 2026. (Kenichiro Kojima/Kyodo News via AP)