A PYMNTS Company

US: Uber is sizing up bike-share acquisitions

By  |  June 10, 2018

Uber is reportedly looking into buying Motivate, the company that makes Ford GoBike’s in the San Francisco Bay Area and Citi Bike over on the East Coast. This comes following reports of Lyft getting close to purchasing Motivate in a US$250 million deal.

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    Just last week, it was reported that JUMP was considering a possible sale to Uber for more than US$100 million. The company had already entered a partnership with Uber in select cities, such as San Francisco and Washington, D.C., where people can use the Uber app to locate a nearby bike and are given a PIN to unlock it. None of the bikes need to be docked, so they can be picked up and returned anywhere, with a fee of US$2 for every 30 minutes.

    Launched as Social Bicycles almost a decade ago, the company recently rebranded itself as JUMP after a US$10 million Series A investment round.

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