Why Uber is buying e-bike sharing startup Jump Bikes

News Description: 

Katie Fehrenbacher
April 10, 2018

The big daddy of ride sharing, Uber, has officially jumped into electric bike sharing.

On Monday Uber announced that it has acquired Jump Bikes, a 10-year-old venture capital-backed startup that rents out dockless electric bicycles to users around cities. Terms of the deal were not disclosed but a report from last week said that an acquisition was worth over $100 million.

So why has Uber, with its $72 billion valuation and deep global reach, suddenly noticed the company that’s been managing 250 neon red e-bikes in its backyard for a few months (as well as thousands of non-electric bikes in other cities)?

To read the rest of the article, visit: https://www.greenbiz.com/article/why-uber-buying-e-bike-sharing-startup-...

News Date: 
Apr 10
Source: 
https://www.greenbiz.com/article/why-uber-buying-e-bike-sharing-startup-jump-bikes

 

 

 

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