Uber Rides on with eBike Sharer Jump Acquisition

Chances of increasing ebike use have moved up several gears after Uber snapped up Jump, the ebike sharing company.

In a reputed deal worth between $100m and $200m, Uber will be looking to integrate the US ebike facility into its app, meaning a cheaper and quicker option than hailing a car.

New York-based Jump enables riders to rent electric-powered ‘pedal assist’ bikes via an online platform. The bikes are dockless and don’t have to be returned to a specific location.

Jump offers a rider 30 minutes of ebiking for $2 and with an electric engine that equates to more than 10 miles of travel.

Jump, which began as Social Bikes, is likely to be rebranded within the Uber brand and offer the potential for riders to travel farther, faster and cheaper – and with no gas emissions!

Jump CEO Ryan Rzepecki said the concept was an evolution of bike sharing that bridges the gap between cars and bikes.

Uber is now looking to upscale the ebike phenomenon on a global scale.

Dara Khosrowshahi, Uber CEO, commented: “We’re committed to bringing together multiple modes of transportation within the Uber app – so 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.”

The bike-sharing market is growing at about 20 percent a year and is set to be worth between €3.6bn (£3.1bn) and €5.3bn by 2020.

“Our ultimate goal is one we share with cities around the world: making it easier to live without owning a personal car,” said Khosrowshahi.

“Achieving that goal ultimately means improving urban life by reducing congestion, pollution and the need for parking spaces.”

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