BMW, Mercedes-Benz Sell Taxi App To Lyft For $197M: CEO Says Entering Europe Is 'Important Step'
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 16 2025
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Source: Benzinga
Lyft's Acquisition: Lyft, Inc. has acquired the European taxi app Freenow from BMW Group and Mercedes-Benz Mobility for €175 million ($197 million), marking a significant expansion into the European market and nearly doubling its addressable market.
Financial Impact: The acquisition is expected to increase annualized Gross Bookings by around €1 billion and enhance Lyft's revenue sources, with shares rising 2.11% following the announcement.
Analyst Views on AWAY
Wall Street analysts forecast AWAY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AWAY is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 20.209
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Current: 20.209
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
