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Citi Bike Saved By Real Estate Company
By
Rebecca Fishbein
Published Oct 25, 2014
Modified Oct 25, 2014
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By
Rebecca Fishbein
Published Oct 25, 2014
Modified Oct 25, 2014
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The ever-embattled Citi Bike program may be getting a second shot—it looks like real estate company REQX Ventures has officially purchased the bike-share program from Alta Bicycle Share, as was expected over the summer. Maybe these new owners will figure out how to keep all the bikes from running away!
News outlets are noting that the deal between REQX Ventures and Alta Bicycle Share is official at last. The potential sale was first reported over the summer.
REQX Ventures claims they'll be expanding the program beyond its limited scope, so dock-less bikes uptown (and in Queens and southern Brooklyn) will finally have a proper home. though the deal does come with a downside. They'll likely be raising annual membership prices from $95 to about $145.
Tagged
alta bicycle share
citibike
REQX Ventures
Rebecca Fishbein
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