Uber to Buy Electric Bike-Sharing Service JUMP

Marcus Newton
April 10, 2018

Industry experts say more consolidation will follow in the United States, particularly as bike-sharing companies face regulatory limits on the number of bikes allowed in cities and difficulties getting Americans accustomed to pedaling instead of driving.

Details on Uber's purchase agreement to buy the 8-year-old bike service were not immediately made public.

Jump Bikes is a pretty good value proposition on its own. From there, the customer reserved a bicycle and was charged $2 for 30 minutes and then a per-minute fee after that. 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. The company changed its name when it launched its own fleets of electric bicycles, which are available in San Francisco and Washington.

Go farther. Get there faster. Combining JUMP's track record of product innovation and city partnerships with Uber's scale, operational excellence, and resources will allow us to make a global impact faster than if we were to pursue our vision alone. With Uber's nearly ubiquitous app, the transaction cost of getting an ebike will be lubricated. "Just tap the "bike" option in the app's menu located at the top left corner of the home screen", Uber's instructions read.

It is a sunny day, why not give it a try?

Uber is expanding beyond four wheels and is jumping right into the dockless bike wars. But Monday's announcement paves the way for expansion of the Uber Bike program into other markets.

An example post of Habal – habal services offered via Facebook groups
An example post of Habal – habal services offered via Facebook groups

Jump CEO Ryan Rzepecki shared his thoughts on Medium.

For Jump, the deal means being able to compete against massively well-funded operators such as Ofo and Mobike, Chinese dockless startups aiming to expand rapidly in the U.S. As part of the pilot program, Jump is now only allowed to operate 250 bikes in the city.

There are still a lot of questions to answer.

JUMP Bikes, the dockless electric bike sharing company is joining Uber to transition to a multi-modal platform.

In a blog post earlier this year, Uber wrote: "We're particularly excited about bikes because they can provide a convenient, environmentally friendly ride even in dense cities where space is limited and roads can be congested". 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.

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