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Uber Buys Electric Bike Sharing Startup JUMP Bikes

April 09, 2018
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3 min read
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Uber Buys Electric Bike Sharing Startup JUMP Bikes
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Uber is going from four to two wheels with its latest acquisition. The ride-hailing company has bought JUMP Bikes, an electric bike-sharing startup that's operating in Washington DC and San Francisco.

Uber wants to expand the service of the dockless bike-sharing service and had been trialing an integration of Jump into the Uber app over the last two months. It's unclear how much Uber paid for JUMP, but according to reports from TechCrunch, the deal was valued from $100 to $200 million.

"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," said Dara Khosrowshahi, Uber's CEO, in a blog post.

JUMP launched in Washington DC in September 2017 and in San Francisco this January. JUMP was on an 18-month trial with the San Francisco — placing 250 bikes around the city to use. Washington DC issued the company permits to operate up to 400 bikes. JUMP was founded in 2010 as Social Bicycles and has years of experience in different types of bike sharing programs, with 15,000 bikes in more than 40 markets.

Two aspects make JUMP different from a traditional, docked-based bike sharing program like New York's Citi Bike or Washington DC's Capital Bikeshare. Riders can park the bikes nearly anywhere as long as they can be locked to something (i.e. a bike rack, light pole or street sign) avoiding the need to dock one at a station.

Secondly, these bikes have an electric motor, so you'll be able to travel faster with less effort than a normal human powered bike.

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JUMP bikes can now be booked through the Uber app, although you'll likely have to join the waitlist before taking your first trip (at least in San Francisco). Riders can locate and reserve the e-bikes via Uber's map, unlock the bike with a pin and then ride away — paying just $2 for every 30 minutes of use.

Riders can still book through rides through the JUMP app. Techcrunch reported in January that JUMP had plans to expand to Sacramento and Providence, although its now up to Uber how the service will grow.

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  • Intro Offer

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  • Annual Fee

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  • Recommended Credit

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Why We Chose It

There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)

Pros

  • 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
  • 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
  • Packed with credits foodies will enjoy
  • Solid welcome bonus

Cons

  • Not as useful for those living outside the U.S.
  • Some may have trouble using Uber and other dining credits
  • You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
  • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
  • Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
  • Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
  • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
  • Terms Apply.