The Deal That Could Save Citi Bike
Citi Bike, the New York bike-sharing service, has been struggling with cash flow since its inception. But it might soon be able to ride out its money troubles thanks to an investment company affiliated with the gym Equinox. Under the proposed deal, REQX Ventures, formed by officials from Equinox and the gym’s parent firm, Related Companies, would take a 51% stake in Citi Bike’s parent company . This would give REQX full control of Citi Bike’s future — as well as that of bike share programs owned by Alta Bicycle Share, from Chicago to Toronto and Melbourne, Australia.
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