Uber Makes a Bet on Bike-Sharing With JUMP Bikes Buy

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Unlike with many municipal bike-sharing programs, JUMP bicycles are dockless. TechCrunch which had earlier reported that JUMP was in talks with Uber for investment including Sequoia Capital's Mike Moritz while contemplating a sale of $100 million pegged the final price closer to $200 million based on its sources.

Jump founder Ryan Rzepecki first got the idea for his bike-sharing company while studying for his master's degree in urban planning at Hunter College.

Since starting the pilot program a few months ago, Uber has found that the average distance of a ride on a Jump bike is 2.6 miles - which is not much different from how far customers travel on average for an Uber vehicle ride. Uber's expertise in pushing into new cities could help Jump expand even more rapidly.

Uber CEO Dara Khosrowshahi mentioned in a post that the company wishes to make numerous modes of transportation readily available within its program, including bicycles and subway rides.

It's the second recent anti-Uber ruling from the Court of Justice of the European Union (CJEU), which said in December-in a case involving Spain this time-that Uber is a transportation company.

Khosrowshahi said in an interview that Jump was "a ideal fit" for Uber's expanding portfolio beyond its core ride-hailing service.

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

With the addition of bicycles, Uber is taking a page from the playbook of competitors such as China's Didi Chuxing. Bikes are locked and unlocked using a smartphone app, and can be left at any bike rack with their location tracked using Global Positioning System. It costs $2 for 30 minutes of ride time. An integrated U-bar also enables riders to lock the bike to light poles, trees, benches, or traditional bike racks.

The ECJ said that since Uber was offering a transport service under European Union law the obligation to notify the Commission in advance did not apply. This is proof that JUMP e-bikes allow you to go farther, faster, and have more fun.

Ride-hailing giant Uber is buying the e-bike startup JUMP Bikes, adding bike-share to its transportation options.

Until past year, Jump Bikes was known as Social Bicycles and provided bikeshare systems for city governments across the United States.

You've heard me talk a lot about Uber as a platform-using the power of our technology, our on-the-ground Ops know-how, and global scale to provide more options for multimodal transportation to help people (or stuff) get from point A to B. This also helps us provide greener, more affordable, and more accessible transportation options for commuters, ultimately reducing the need for individual auto ownership. In addition, you can continue to use the Jump app if you prefer.

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