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

BY: KATIE FEHRENBACHER

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