Citi Bike is for sale

Citi Bike bikesharing station, Manhattan, New York City Photo by: Lindsey Nicholson / UCG / Universal Images Group via Getty Images

Lyft is exploring a sale of its bike and scooter business, which includes New York City’s popular Citi Bike. The news comes several months after the struggling ridehail company laid off a third of its workforce in an effort to reduce costs.

Lyft has “received strong inbound interest in our bikes and scooters business,” the company said in a statement. “It’s only logical for Lyft to listen to credible proposals and explore strategic partners and optio...

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