It's legit. They just got bought or partnered or something with BMW, and the business is intended to consolidate with bike sharing and some other stuffs in Europe.

I ride with FreeNow in my city, just as I did with MyTaxi before. Same drivers, same app, same prices, just different colors (and slightly less favorable terms of employment, from what I've heard from the drivers during the time of transition).

FreeNow is as good as it's ever been. Better, in fact. It's the only app I use for this kind of thing as it uses legit, local taxis.