Ride-hailing firm Uber today announced they are to invest in bike start-up Jump for an estimated $100 million.
Jump are based in New York and have been working alongside Uber for the last two months trialing the bike-sharing option on the Uber app.
With initial trials believed to have been a success Jump will form a subsidiary of the privare hire car firm.
With a multitude of offerings already in London ranging from the distinctive yellow Ofo bikes to others including oBike, Mobike and Urbo it’s hard to see how another new entrant might monopolise what is a small bloated market.
Uber CEO Dara Khosrowshahi said:
“At Uber, we’re focused on championing smart technology for smart cities. Today, we help tens of millions of people get a ride at the tap of a button. But our ultimate goal is one we share with cities around the world: making it easier to live without owning a personal car. Achieving that goal ultimately means improving urban life by reducing congestion, pollution and the need for parking spaces. “That’s why we’re committed to bringing together multiple modes of transportation within the Uber app—so that you can choose the fastest or most affordable way to get where you’re going, whether that’s in an Uber, on a bike, on the subway, or more. “Today I’m excited to announce we’ve entered into an agreement to acquire JUMP Bikes, an electric, dockless bike-sharing service we’ve already been testing in San Francisco. Our hometown pilot is off to a very strong start, with riders enjoying a convenient and environmentally friendly way to cruise up and down our trademark hills. “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.”