Uber Acquires Bike-Sharing Startup JUMP

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Uber gets into the bike-sharing game with their acquisition of JUMP for an undisclosed amount.

Uber Acquires JUMP

The company may have withdrawn their presence in SouthEast Asia but it doesn’t mean they’re ready to slow down. Earlier this month, Uber purchased JUMP, a startup that offers dockless electric bicycles for rent.

According to TechCrunch’s sources, the final price of the acquisition is $200 million.

JUMP CEO Ryan Rzepecki told TechCrunch that their decision to sell is based on Uber’s ability to help them realise their vision at large scale. “I had a chance to spend a couple of evenings with him, and really talk through his vision for the business and our vision, and saw a lot of alignment.”

Uber CEO Dara Khosrowshahi sees the partnership as a good opportunity to expand the company’s services. As cities get more and more congested, alternative modes of transportation are needed more than ever.

“We see the Uber app as moving from just being about car sharing and car hailing to really helping the consumer get from A to B in the most affordable, most dependable, most convenient way,” Khosrowshahi said. “And we think e-bikes are just a spectacularly great product.”

The bikes from JUMP features a motor that help boost riders on inclines. It costs $2 for a 30-minute ride.

Once done, the bikes can be locked on any public rack. You can also leave them locked on “furniture zone” of sidewalks. This is the area where light poles, utility poles and benches are positioned.