Why Uber is buying e-bike sharing startup Jump Bikes

April 10, 2018

Why Uber is buying e-bike sharing startup Jump Bikes

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 ten-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)?

It’s a combination of the right timing for the mobility market, the evolution of the wireless computing and battery technology, and the right positioning for a friendlier Uber (along with a few other things).

Read the rest of the article here: https://www.greenbiz.com/article/why-uber-buying-e-bike-sharing-startup-jump-bikes