Wednesday, 18 July, 2018

Dockless bike sharing service JUMP gets acquired by Uber

JUMP is joining Uber. – JUMP Bikes – Medium Uber to buy electric bicycle-sharing firm Jump
| 10 April, 2018, 20:39

Earlier this year, the two partnered to launch Uber Bike, which allows one to book Jump bikes using the Uber app.

Jump and Uber first began working together in February when Uber began offering some users the option to order a Jump bike in San Francisco.

The ride-hail company has acquired electric bike-share startup Jump Bikes for an undisclosed amount.

Uber is side-stepping this controversy with the acquisition of Jump Bikes.

Writing in a blog post on the Uber website, chief executive Dara Khosrowshahi said: "At Uber, we're focused on championing smart technology for smart cities".

The ride-hailing company on Monday said it bought Jump Bikes, a New York-based firm that operates in 40 United States cities. This is proof that JUMP e-bikes allow you to go farther, faster, and have more fun. Critics say they can cause a huge mess as broken and vandalized bikes are abandoned.

Bike sharing in China highlights hurdles of doing business
Bike Consumption in China High-lights hurdles of doing business

According to The New York Times, Uber execs were impressed not only by the high utilization rate (six or seven times per day) of the 250 red bikes distributed throughout the city, but also how the average distance (2.6 miles) closely aligned with the average for an Uber ride. After that, it'll be only a matter of time before we hear of Uber bringing JUMP bikes to new cities around the world, so we'll keep an eye out for those announcements.

Its e-bikes, which were unveiled a year ago in Washington DC, cost $2 (£1.40) for the first half-hour, then 7 cents per minute. And now, surprisingly, Uber is moving in a different direction with its first acquisition of a bike-share company.

Under the agreement, JUMP employees will join Uber's team but the JUMP will remain as an independent company, said Rzepecki. "And we think e-bikes are just a spectacularly great product", he told the publication.

Meanwhile, Uber's Khosrowshahi is also positive about the new acquisition. The organization changed its name when it established its own fleets of electric bikes, that are available in San Francisco and Washington.

The EU's top court on Tuesday backed the right of member states like France to ban a service by ridesharing firm Uber without notifying Brussels, in a fresh setback to the USA giant. Our pilot of JUMP bikes in San Francisco is off to a very strong start, with thousands of trips by riders who always have smiles on their faces as they cruise up hills-and past people riding conventional bikes - I nearly felt guilty riding mine.

JUMP's CEO Ryan Rzepecki is an impressive entrepreneur who has spent the better part of a decade bringing bike-sharing to life across the globe.


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