Ridesharing

Uber Jumps Into Bike Sharing

Uber announced that it has acquired bike-sharing company JUMP.

“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,” Uber CEO Dara Khosrowshahi wrote in a blog post.

Just last week, it was reported that JUMP was considering a possible sale to Uber for more than $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 $2 for every 30 minutes.

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

“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. I’m thrilled to welcome his team and their stellar product onto the Uber platform,” wrote Khosrowshahi.

JUMP operates in 12 cities all over the world, including Portland, Oregon, and Phoenix, Arizona, according to Wired.

“Our mission at JUMP Bikes is to build the bike you want. A bike that can take you farther, get you there faster and be the most fun to ride,” the company wrote in a blog post. “A bike that you don’t even need to own, doesn’t cost a penny to maintain and is always nearby when you want it. If we achieve this mission, then we’ll see more people on bikes  —  meaning greener, more accessible and healthier cities.”

The acquisition is proof that Uber is thinking beyond being simply a substitute for taxis. In fact, earlier this year, Khosrowshahi said he hoped to someday use Uber’s platform to run a city’s bus system.

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