This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.
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.
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.
Featured image courtesy of JUMP Bikes.
Know before you go.
News and deals straight to your inbox every day.
NEW INCREASED OFFER: 60,000 Points
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.
