Minneapolis considers buying Nice Ride bike-sharing brand

The Minneapolis Public Works and Infrastructure Committee is planning to discuss purchasing the brand and trademark of Nice Ride Minnesota for just $250.

A memo on the committee website said a meeting on Oct. 26 will have members discuss authorizing the purchase.

Nice Ride was suspended by Lyft earlier this year after the company lost Blue Cross Blue Shield as a sponsor.

Since then, other bike-share options arrived to fill the void left in the city, including Lime, Spin, and Veo which also include electric scooters.

RELATED: ‘The city will have bikes’: Minneapolis explores other options after Lyft suspends Nice Ride

Both Lyft and Nice Ride then donated 244 lightweight stations to Minneapolis for the city’s shared mobility program.

The memo adds that Nice Ride, a nonprofit organization, agreed that its remaining assets will go to the Great Plains Institue, another nonprofit that focuses on the transition to net-zero carbon emissions. The deal also allows the Great Plains Institute to use the brand and trademark until Dec. 31, 2026 for advocct and planning purposes.

Nice Ride also agreed to sell the brand and trademark for $250 so the city can “hold the brand and trust and use it in the future if a new bike-sharing operation is created.