Citibike is awesome. If you don’t think so, then poo poo on you! The only issue that we have is that when we try to leave our midtown cave to head uptown, we can’t dock anywhere!

Well, that is all about to change (for a fee, of course). REQX Ventures is buying out Alta Bicycle Share, the operator of Citi Bike and former MTA Chair Jay Walder is in charge.

The increase in capital and more important, the insight of superior management and focus, will better position Citibike to be here to stay!

Once the plan has been put in place, Citibike should have about 12,000 bikes and more than 700 stations. The first new stations will be installed in 2015 and last for a few years (nothing is quick!).

We mentioned that there would be a price to pay. C’mon the money has to come from somewhere! The price of an annual membership will rise from $95 to $149. We’re not sure about the 24 hour prices yet.

Our team sees this as an upgrade to the city and we fully support being able to ride to more place soon!