Uber acquires JUMP to break into bike sharing

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JUMP offers a dockless electric bike service within San Francisco and Washington. The terms of the deal weren't disclosed; a TechCrunch report from early April said the price could be north of $100 million.

The giant agreed to pay more than $100m to buy the electric-bicycle provider, a person familiar with the matter told media. By February, Jump had launched a pilot service in partnership with Uber.

This way, the e-bikes don't need designated parking spots and can be picked up and dropped off anywhere. The service now operates in the Washington D.C. and San Francisco areas.

Both Uber and JUMP say the goal is to offer multiple modes of transportation within the Uber app, to give users access to fast and affordable transportation and make it easier to live without owning a vehicle.

As JUMP's bikes employ batteries, they'll be more expensive to acquire and operate than other bike share vehicles.

As Rzepecki put it, the acquisition of JUMP Bikes is intended as "a significant part in the transition of Uber to a multi-modal platform".

With its own user base and JUMP's cycles, it's possible that Uber could avoid the bubble-burst that's bitten outfits like Chinese operator Bluegogo, which collapsed in November 2017.

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Bike services are a more affordable means to complete first- and last-mile trips to Uber's suite of services. Once a person is done with the bike, they simply have to leave it at a nearby bike rack, or other similar location.

The deal will also give Uber access to Jump's 12,000 dockless bikes in 40 cities around the world.

JUMP, for those of you who are unfamiliar, is a company that's been making a name for itself by doing bike sharing a little differently.

JUMP Bikes initially partnered with Uber in late January to let you order a JUMP Bike within the Uber app. SFMTA allowed JUMP Bikes to be the first permitted dockless bikeshare system in San Francisco, and will reevaluate the program in October.

We now don't know too many details regarding the acquisition, but it appears that you can order a bike as easy as you'd order a vehicle. Now no dockless-biking companies have been authorized to operate in the city, but in December the NYC DOT put out a request for expressions of interest from such ventures.

Uber had argued that France should have sought the European Commission's approval for a new taxi law, which contained measures on taxis and mobility apps, including one that said only official taxis could use geolocation technology to show available cars.

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