Uber Is Now Officially in the Bike Rental Business

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Uber buys Jump Bikes

Uber is buying Jump Bikes for a reported $200 million to expand its services for customers traveling short distances. The ride-hailing company has been working with Jump on a pilot in San Francisco since February, letting customers rent its red bikes through the Uber app.

The so-called dockless bikes, which can be locked with a code key and secured to a pole or other structure anywhere, rent for $2 per half hour. Uber CEO Dara Khosrowshahi said the bikes, heading next to Washington, D.C., may “cannibalize” shorter trips by car but offer an important transportation option for customers. More details from Khosrowshahi’s blog post:

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.

Stay tuned for more news as we introduce additional ways to move around your city, right from the Uber app.

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