Uber acquires ebike sharing company Jump Bikes for around $100M-$200M

Uber acquires ebike sharing company Jump Bikes for around $100M-$200M

In a recent announcement, popular car-sharing company Uber has revealed that it has acquired ebike sharing company Jump Bikes. For the acquisition, Uber has reportedly paid around $100 million-$200 million to Jump Bikes but official figures have not been released by the company.

Jump Bikes presently has 250 ebikes operating in and around San Francisco -- and a few ebikes in Washington DC -- under its ebike sharing service. It was almost a decade back that Jump launched the service as a traditional city bike share program dubbed Social Bikes.

Under the ebike sharing service offered by Jump, customers have to pay only $2 (and some additional fees) for 30 minutes of ebike ride. In the 30 minutes of ebiking available under Jump’s service, customers can benefit from the boost of the electric engine to travel more than 10 miles on bike paths or through busy streets.

However, to avail the ebike sharing service offered by Jump, it is mandatory for customers to sign up for the service and become a member.

Uber’s acquisition of Jump Bikes is a notable move because it will potentially pave the way for the integration of the ebike sharing service into the Uber’s almost ubiquitous app, particularly at a time when the service is being made available in more cities. The integration will apparently encourage more ebike rides, which will translate into less vehicle travel, less congestion in cities, and lower greenhouse gas emissions.

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