Uber to acquire bike-sharing company

Clay Curtis
April 11, 2018

Oh, and without fossil fuels... Even the Jump Bikes branding will remain after the purchase. You get 30 minutes of ebiking for $2 (plus some fees).

The electrical bicycles from Leap Bikes have shown popular in Sanfrancisco.

Although now only operating in San Francisco and Washington D.C., Jump has stated it intends to expand operations domestically and overseas, with plans for Europe in 2019.

Uber is a ride-sharing service available in hundreds of cities around the world. With Uber's nearly ubiquitous app, the transaction cost of getting an ebike will be lubricated.

"Our teams spent time on-ground, interacting with partners through group sessions, ride alongs and in person meetings to gather inputs". The rider gets a code on their smartphone to activate the bike. Soon, folks are hooked and hopefully buying their own ebikes.

Uber has big plans for Jump.

Atlanta International Airport was the world's busiest airport in 2017
Worldwide passenger traffic increased 6.6% in 2017, while global passenger numbers were up 8.4%. This represents a 21% share of projected global passenger traffic forecasted by 2040.

According to a recent study by the San Francisco County Transportation Authority, on a typical weekday, over 5,700 transportation network company (TNC) vehicles, a majority of them Uber and Lyft cars, operate on San Francisco streets at peak times, with the peak period occurring between 6:30pm and 7:00pm. Rzepecki is a city planner by training, and Jump has had success running bike-share systems in cities all over the globe. "You drive down a street, you see bikes everywhere, all scattered out", Dallas City Council member Tennell Atkins told the Wall Street Journal late last month.

There are still a lot of questions to answer. The company's competitors in the market include the Alibaba-backed Ofo, Mobike, Hellobike and Spin/Skinny Labs. Will universal charging stations be built? This will allow the company to expand beyond cars, being able to offer customers other possible forms of transportation, and will also enable Uber to make moves within the bike-sharing market.

"Through our collaboration, we realised that we shared Uber's vision of multi-modal mobility and had the same goal of decreasing auto ownership".

This can reduce pollution and congestion on the roads as well as the need to hunt for parking, and these are aspects that Uber says will promote different modes of transport, including an Uber, bicycle, or other means.

Uber Technologies Inc. today announced a deal to acquire Jump Bikes Inc., a venture-backed startup competing in the rapidly growing field of bicycle sharing. Leap Bikes CEO Ryan Rzepecki credits that tie up with boosting the vulnerability of the startup's bikes. The pilot, which allows Uber riders to find and reserve the bikes through the Uber app is "off to a very strong start", Khosrowshahi said. "In jurisdictions where Uber has good political relationships, it adds value but they also pick up all of Uber's baggage".

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