Uber acquires Jump, a dockless e-bike share company

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JUMP Bikes initially partnered with Uber in late January to let you order a JUMP Bike within the Uber app. SFMTA allowed JUMP Bikes to be the first permitted dockless bikeshare system in San Francisco, and will reevaluate the program in October. His statement suggests the app could integrate subway navigation alongside ride-hailing and bike rental to get users from place to place.

Uber has acquired a bike-sharing startup called Jump. By moving away from a strictly ride-sharing model, Uber may even eventually capture part of the Chinese market away from prospective competitor Didi Chuxing.

Writing in a blog post on the Uber website, chief executive Dara Khosrowshahi said: "At Uber, we're focused on championing smart technology for smart cities". Pedal-assist bikes will now be allowed, but more powerful e-bikes that can reach speeds over 20 miles per hour will still be forbidden.

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Uber said the purchase was in line with its goal of "bringing together multiple modes of transportation within the Uber app".

"The utilization of the bikes has been higher than expected", Khosrowshahi said. "You drive down a street, you see bikes everywhere, all scattered out", Dallas City Council member Tennell Atkins told the Wall Street Journal late last month. A JUMP e-bike ride of 30 minutes costs about $2.

Uber is valued at between $48 billion and $68 billion, making it the world's most valuable start-up. 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.

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The company renamed itself Jump Bikes and focused on electric bicycles. In the past year, Jump has transitioned from a company that sells its dockless bikes to operating its own fleets.

Khosrowshahi didn't address what the acquisition would mean for Uber's multibillion dollar losses. Both companies have confirmed the deal and the bike-share firm may continue to operate independently, though the staff will be absorbed in Uber's roll. 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.

"We're excited to begin our next chapter and to play a significant part in the transition of Uber to a multi-modal platform" and help "shift millions of trips from cars to bikes", said JUMP CEO Ryan Rzepecki.

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