Ridesharing company, Uber has acquired JUMP for an undisclosed amount. The bike-sharing company, launched as Social Bicycles in 2011, runs GPS-enabled programs in twelve cities all over the world, including Portland, Oregon, and Phoenix, Arizona.
Jump Bikes, with its fleet of 250 neon-red electric vehicles, charges $2 for every half-an-hour of a ride. But it also endowed Jump with another asset that should be useful to Uber-good relationships with city officials.
"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", Khosrowshahi said.
It's the second recent anti-Uber ruling from the Court of Justice of the European Union (CJEU), which said in December-in a case involving Spain this time-that Uber is a transportation company.
Uber CEO Dara Khosrowshani said on Twitter that many employees at Uber were "super passionate about the (Jump) product".
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. 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. This allows riders to lock them to existing bike racks or the "furniture zone" of sidewalks, where things like light poles and benches are. For a 30-minute ride, JUMP bikes cost about $2.
Over the last two years, the bike share industry shifted from a slow-moving government contracting business to one of the most well-capitalized and competitive consumer technologies in the world. Those who have been following the development of Uber's service for a while now probably won't find this acquisition as much of a shock, as Uber has been working with JUMP for a few months now to integrate a biking option in its app.
Uber apparently isn't burning cash fast enough, so the ride-share company has bought dockless bike-share outfit JUMP Bikes, with CEO Ryan Rzepecki coming along for the ride. Developing and commercializing our vision took 100+ people almost ten years of struggle and hustle to bring to life but, we've finally delivered a solution that delights customers and captures the full potential of bikes as a means of daily transportation. In cities including NY and Uber's hometown of San Francisco, for example, the company faces pressure from transit experts and regulators who say ride-hailing has worsened congestion and decreased use of public transit systems.More news: Kim Jong-un breaks silence on talks with Donald Trump
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