Uber Acquires Electric Bicycle-Sharing Startup Jump

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The acquisition by Uber will allow US passengers to choose alternative for car further consolidating the crowded bike-sharing industry

Ride-hailing major Uber Technologies announced on April 9, 2018, that it acquired electric bicycle service Jump Bikes. Jump is a dockless electric bike service operating in San Francisco and Washington where it has 250 bikes. According to the report, around 100 Jump employees will be joining Uber. However, terms and conditions of deal are not disclosed yet and they will be reveled in coming week.

In January 2018, Jump bikes integrated its service with Uber’s smartphone app in San Francisco, which allowed users to find one of Jump’s bright red bicycles by opening the Uber app. The Uber spokeswoman said the company had no plans to withdraw the standalone Jump app. The deal furthers Uber’s goal of offering “the fastest or most affordable way to get where you’re going, whether that’s in an Uber, on a bike, on the subway, or more,” said Uber Chief Executive Dara Khosrowshahi.

The deal signals a shift for Uber toward a wider set of transportation options in urban centers. Uber is getting into computation with addition of bicycles competitors such as China’s Didi Chuxing. Uber has at times lagged rivals in certain markets due to limited private car-hailing. “We’re excited to begin our next chapter and to play a significant part in the transition of Uber to a multi-modal platform” and help “shift millions of trips from cars to bikes,” said Jump CEO Ryan Rzepecki.

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