Uber JUMPs: slurps San Fran cycle-share partner

10 April 2018, 07:00 | Andres Norman

Samuel Aponte

Samuel Aponte

There also are established competitors for Uber to deal with, like New York's Citi Bike program, which saw its 50 millionth ride past year.

Uber expects to eventually expand the bike-share service outside of San Francisco and has already opened up a waitlist for users looking to be notified when a Jump bike will be available via the app in their city.

Jump's bikes also have a couple other noteworthy features.

Uber is betting on e-bikes.

Dockless bikes self-lock and can be parked anywhere, rather than in a station, as Citi Bikes are. Most bike share programs in the United States have begun with the bikes needing to be docked, as US municipalities fear the pitfalls of dockless bike share programs in Asia.

Currently, JUMP is the only dockless bike sharing company that's permitted to operate in San Francisco, and for the moment that operation is relatively small in scale. But it also endowed Jump with another asset that should be useful to Uber-good relationships with city officials.

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The financial terms of the deal were not disclosed, but TechCrunch cited a source close to the situation as saying that the price tag was about $200 million.

Uber is valued at between $48 billion and $68 billion, making it the world's most valuable start-up. "Achieving that goal ultimately means improving urban life by reducing congestion, pollution, and the need for parking spaces".

The Jump deal comes as Uber faces growing competition from competing ride-sharing operators in global markets. "Just tap the "bike" option in the app's menu located at the top left corner of the home screen", Uber's instructions read.

At the same time, the move into dockless bikes could reenforce skepticism from opponents who say un-docked bikes clutter city streets and sidewalks, and encourage theft and vandalism.

Didi said it would start off with a vehicle service, but according to Reuters, it is also considering allowing users to hire motorcycles and bikes. Such concerns have led many large U.S. cities to cap the number of bikes allowed or resist dockless bike-share entirely. Some cities might not be quite so keen to let Uber be the firm to fill their streets with bicycles, though. The ride-hail company has acquired electric bike-share startup Jump Bikes for an undisclosed amount. 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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