Uber Buys Bike Rental Firm Jump

Posted by at 7:30 pm on April 9, 2018

Uber members will soon be able torent electric bicycles through the app, now the ride-sharing firm has acquired US bike-hire firm Jump.

Jump was weighing a $100 million offer from Uber or a new investment round. The competition was hot, but Uber ultimately won.

Jump is a New York based firm which rents electric-powered “pedal assist” bikes via an smartphone app.  Jump is a dockless network which operates in 40 US cities. Dockless means riders do not need to be return the bikes to a specific place.

Uber, which already has a tie-up with Jump in San Francisco, said it would now look to “scale” the bikes globally.

Uber chief Dara Khosrowshahi said:

“We’re committed to bringing together multiple modes of transportation within the Uber app – so that you can choose 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.”

The Jump deal comes as Uber faces growing competition from competing ride-sharing operators in international markets.

Last week, Uber sold its South East Asian operations to regional rival Grab, retaining a 27.5% stake in Singapore-based firm.

 

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