Uber Acquires Electric Bike-Sharing Provider Jump

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Critical to Jump's early success has been regulatory support it received from the San Francisco Municipal Transport Agency (SFMTA), with the regulatory body awarding it the city's first stationless bike-share permit in January. Several of Uber's worldwide competitors, including Chinese giant Didi, have invested in or partnered with bike-share startups.

Uber Technologies Inc. today announced a deal to acquire Jump Bikes Inc., a venture-backed startup competing in the rapidly growing field of bicycle sharing. In addition, you can continue to use the Jump app if you prefer.

Uber and Jump already had a relationship.

JUMP Bikes, the dockless electric bike sharing company is joining Uber to transition to a multi-modal platform. "We see the Uber app as moving from just being about vehicle sharing and auto hailing to really helping the consumer get from A to B in the most affordable, most dependable, most convenient way", Uber CEO Dara Khosrowshahi told the publication.

Didi said it would start off with a auto service, but according to Reuters, it is also considering allowing users to hire motorcycles and bikes. "In the end we will want as many bikes as possible for the urban consumer", he said. Jump charges just $2 for every 30 minutes of hire with most journeys coming in shy of that length. Instead of relying on special bike racks, JUMP bikes - which are bright red and feature an electric motor for pedal assist - can be dropped off and locked up anywhere.

The deal gives Uber access to JUMP's fleet of 12,000 dockless, GPS-enabled bikes.

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Uber CEO, Dara Khosrowshahi, said the move would help Uber in decreasing congestion. With the boost of an electric engine that's 10+ miles of travel through often busy streets or on bike paths where cars can't go for nearly nothing.

For Uber, the acquisition presents new regulatory headaches. It has deployed about 200 bicycles in the city and has become one of the most popular bike services, with each bike averaging 3.5 trips daily and 11 miles per day, according to a company spokeswoman.

In January, Uber began offering San Francisco customers a way to reserve Jump Bikes from within its app.

Companies like Uber are betting on huge alterations in how persons breathe. Our hometown pilot is off to a very strong start, with riders enjoying a convenient and environmentally friendly way to cruise up and down our trademark hills.

Although now only operating in San Francisco and Washington D.C., Jump has stated it intends to expand operations domestically and overseas, with plans for Europe in 2019.