Lyft is considering strategic alternatives for its bike division, including a potential sale or partnership with an investor. The company acquired a bike-rental operation in 2018, which has been popular in several cities but is also a costly logistical challenge. The move is part of a series of changes by new CEO David Risher to turn around the struggling company. Since taking over, Risher has cut jobs, introduced new features, and mandated office returns. Lyft's market share has increased recently, and its stock has risen more than 19% since Risher's appointment.