Uber acquires electric bike sharing company Jump


Uber today announced they have acquired Jump, an electric dockless bike-sharing company, who now operate 12,000 dockless bikes in 40 cities, across six countries. Uber CEO, Dara Khosrowshahi sent an email to the employees confirming that they haven't implemented consolidation as the new business strategy for surviving in the new market.

Khosrowshahi's rationale is that Uber's "ultimate goal" of "making it easier to live without owning a personal car" means it has to host multiple modes of transport.

While Jump bikes are not yet regulated, the electric-pedal company received exclusive permission from the San Francisco Municipal Transportation Authority (SFMTA) to kickstart service in the city.

"LimeBike eliminates docking stations by providing a flexible system of bikes that can go anywhere", the company explains on its website.

Taking a $2 bike into a part of the city with a higher density of drivers and then hailing an Uber from there may be a faster and more affordable option than taking an Uber for that whole ride. Most of these changes earned a round of applause from the driver audience in Los Angeles. I met a number of PHC drivers and taxi drivers following the announcement of Grab's merger with Uber's Southeast Asia operations.

As France did not seek the Commission's approval Uber argued that criminal charges brought against two of the company's French managers were not valid.

Automated bike rentals that require only a credit card to unlock have taken off in recent years.

The pedal-assisted electric bikes operate nearly silently and can reach speeds of over 30km/h, allowing commuters to use the service for those longer journeys.

Bike sharing is a booming market crowded with ambitious startups.

E-bikes seem likely to become a much more common sight on city streets.

When Uber was launched it offered ride-sharing for its users who could summon transportation via the app.

Uber Technologies Inc on Tuesday launched a new app for its drivers that includes real-time earnings tracker, the latest effort by the ride-hailing service to improve an often contentious relationship.

The company announced on Monday it had acquired Jump Bikes - which only began operating in San Francisco in January this year - for an undisclosed sum, reportedly around $100 million.

Dockless: Users of the bike tab on Uber will be able to see where available bikes are located near them.

Rzepecki said his firm's choice to join Uber was driven by a desire to have a bigger, faster impact on urban transit. But engine vehicles use public spaces less efficiently, and many cities want to get solutions to greater congestion.

"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".

For Uber, the acquisition presents new regulatory headaches.