Automobile News

Uber to acquire self-service bicycle firm

Uber to acquire self-service bicycle firm

San Francisco: Ridesharing giant Uber is set to take over Jump Bikes, a bike-sharing startup offering dockless electric bicycles, both US firms announced Monday.

Jump and Uber were previously partners and 250 red bikes — which could be picked up or dropped off anywhere using built-in GPS — have been available through the Uber app in west San Francisco since the start of the year.

The pilot got off to a “very strong start, with riders enjoying a convenient and environmentally friendly way to cruise up and down our trademark hills,” Uber CEO Dara Khosrowshahi said in a blog post, without disclosing the terms of the takeover.

“JUMP’s CEO Ryan Rzepecki is an impressive entrepreneur who has spent the better part of a decade bringing bike-sharing to life across the globe. I’m thrilled to welcome his team and their stellar product onto the Uber platform,” he added.

New York-based Jump, which employs around 100 people, will be a subsidiary of Uber — with the goal of making bikes available worldwide using the Uber app.

For now, Jump bicycles are also available in Washington DC.

In addition to offering its own bikes, Jump Bikes sells its technology to cities under the name Social Bicycles. The firm says bicycles using its system are available in 40 cities in six countries, under various trading names.

AFP