The ride-hailing company Uber, which officially filed to go public on Thursday, went on a shopping spree ahead of its IPO.
Of that $312 million, $250.9 million was spent on Motivate, a bike sharing platform headquartered in New York and backed by Al Gore. Lyft acquired Motivate to"establish a solid foothold in the bike share market and offer access to new transportation options on the Lyft Platform," according to the S-1.
Perhaps more striking is that $122 million of Motivate's pricetag was in goodwill — which the company defines as"significant estimates and assumptions, especially with respect to intangible assets." That's to say, Lyft spent $122 million on the bet that Motivate would be as good as it thinks it is.Lyft also committed to investing $100 million into Motivate's growth in NYC, according to the S-1.
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