M&A - Lyft, Inc.

Form Type: DEFA14A

Filing Date: 2025-04-25

Corporate Action: Acquisition

Type: New

Accession Number: 000175950925000073

Filing Summary: On April 24, 2025, Lyft, Inc. announced significant operational and financial progress in a letter to shareholders from its CEO. The document highlighted Lyft's best-ever results in the previous year, achieving record gross bookings, full-year GAAP profitability, and generating $766 million in free cash flow. The CEO emphasized customer obsession as a key driver of profitable growth. Lyft confirmed its inaugural share repurchase program of $500 million and revealed plans to acquire FREENOW, a leading European multi-mobility app, which will allow Lyft to expand into the European market while nearly doubling its addressable market and diversifying revenue streams. The CEO addressed service improvements, such as the introduction of the Price Lock feature, which allows riders to secure a price for frequently taken rides, contributing to improved service levels and reduced driver cancellations. The letter called for a focus on exceptional customer service and mentioned forward-looking statements regarding future strategies and potential outcomes.

Form Type: 8-K

Filing Date: 2025-04-16

Corporate Action: Acquisition

Type: New

Accession Number: 000175950925000052

Filing Summary: On April 16, 2025, Lyft, Inc. announced that it had entered into a definitive agreement to acquire Intelligent Apps GmbH (d/b/a FREENOW) for cash consideration of €175 million. This acquisition marks Lyft's first expansion outside of North America and will integrate FREENOW, a leading European multi-mobility application, into its operations. The transaction is expected to close in the second half of 2025, contingent upon the satisfaction of customary closing conditions, including requisite regulatory approvals. Lyft also posted supplemental materials regarding the transaction on its investor website on the same day. The press release and supplemental materials are attached as Exhibits 99.1 and 99.2 to the current report.