Uber Acquires E-bike Startup Jump

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Uber-Jump

Uber has acquired the dockless bike-sharing startup Jump. Both the companies were working together for around 2 months as a pilot project where Uber was trying to integrate the bike-option in their app. With a successful running of the pilot project, Uber decided to take over the company and enter into the new foray.

However, both the companies have kept the amount for which the deal has been finalized hidden, as per the sources close to the development, the deal could well be worth $200 million.

Ryan Rzepecki, CEO of Jump while talking to Techcrunch said that it was Uber CEO Dara Khosrowshahi’s leadership that impacted his decision of selling the firm. According to Rzepecki, they realized that Jump’s higher vision can be achieved with Uber.

With the deal finalized, the whole team of Jump will join Uber’s team but continue to function independently led by Rzepecki. “I had a chance to spend a couple of evenings with him, and really talk through his vision for the business and our vision, and saw a lot of alignment,” Rzepecki said to Techcrunch.

Jump bike

Khosrowshahi took spoke to Techcrunch and said that he wants to consumers to reach from A to B in most affordable and most dependable, most convenient way. According to Khosrowshahi, the e-bikes are just a spectacularly great product. “We see the Uber app as moving from just being about car sharing and car-hailing to really helping the consumer get from A to B int he most affordable, most dependable, most convenient way,” Khosrowshahi said.

As the deal has been done, Uber will now get access to Jump’s 12,000 dockless, GPS-enabled bikes in 40 cities across six countries which can now go a lot further as Uber will help them go big with their capital.

It will be interesting to see how Uber takes the bike-sharing options in new horizons.

 

Image Courtesy : USA Today,VentureBeat

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