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Lyft completes its $197 million acquisition of Europe's Freenow
It’s the company’s first expansion outside of North America.
First announced back in April, Lyft’s approximately $197 million agreement with BMW and Mercedes-Benz allows the company to expand outside of North America for the first time. According to Bloomberg, none of the roughly 600 Freenow employees’ jobs are at risk, and while 50 percent of taxi bookings in Europe apparently still happen offline, the new partners believe there is a desire for that to shift more towards an online majority. As well as seamless app integration in the future, Freenow said in April that riders can expect more consistent pricing, faster matching and new features as a result of the Lyft acquisition.
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