RideHailing

Lyft Amplifies Global Reach with €175 Million Acquisition of FreeNow, Tapping into European Ride-Hailing Market

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Berlin, Germany — Lyft has completed the acquisition of German-based Intelligent Apps GmbH, the operator of the FreeNow taxi and ride-hailing service, in a deal valued at €175 million. This significant move marks Lyft’s entry into the European market, allowing it to tap into a ride-sharing sector that encompasses multiple countries, including Germany, the United Kingdom, Ireland, Austria, France, Italy, Greece, Poland, and Spain. The transaction, which was facilitated by law firms Baker & McKenzie and Abreu Advogados, involved extensive legal support covering various areas including corporate law, mergers and acquisitions, and intellectual property rights. … Read more

Ride-Hailing Service Empower Hit with Cease Operation Order in Washington D.C. by Judge

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Washington, D.C. – In a significant move that underscores the ongoing regulatory challenges faced by the gig economy, a judge has ordered the ride-hailing company Empower to cease its operations in the nation’s capital. The decree, which hits the company amid its struggle to secure a foothold in the competitive market dominated by giants like Uber and Lyft, raises critical questions about the standards and oversights governing the burgeoning sector. Empower, known for its model that prioritizes higher earnings for drivers, reportedly failed to obtain the necessary operating license from the Department of For-Hire Vehicles, … Read more