Alta Bicycle Share
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Alta Bicycle Share Has New Owners, New CEO, New Expansion Plans
It's official: Alta Bicycle Share, the company that runs Citi Bike, has a new owner, an infusion of cash, and a fresh face at the top -- longtime transit executive Jay Walder. At a press conference this afternoon, the new team promised to correct Citi Bike's blunders and double the system's size by the end of 2017.
October 29, 2014
Sources: Alta Buyout a Done Deal; Citi Bike Fleet to Double
The buyout of Alta Bicycle Share rumored since July is finally a done deal. REQX Ventures, an affiliate of the Related Companies and its Equinox unit, and Alta Bicycle Share, the company that operates Citi Bike, have agreed to terms on the purchase, according to published accounts and sources familiar with the negotiations.
October 27, 2014
The Pros and Cons of Divvy’s New Expansion Map
In mid-July, Alta Bicycle Share’s Mia Birk told Marketplace that, due to pipeline issues, new bikes for the systems Alta runs probably wouldn’t arrive until 2015. At the time, I predicted that the Chicago Department of Transportation would soon announce that it wouldn’t be able to expand the Divvy system from 3,000 to 4,750 cycles this year, as previously planned.
August 22, 2014