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Uber to Buy Jump, Maker of Electric Bicycles, After Bike-Sharing Test

jumps

11/04/2018

The New York Times

Uber started a pilot program in San Francisco to allow its customers to reserve “pedal-assist” electric bicycles within its ride-hailing app in January. Now, Uber says it plans to buy the company behind the bike-sharing service and bring that capability to other cities around the world.

In a blog post Monday morning, Uber said it reached an agreement with Jump Bikes, a provider of battery-powered bicycles, for an undisclosed sum. It would be the first acquisition for Uber since Dara Khosrowshahi took over as the company’s chief executive in August.

Uber did not say how much it paid for the bike start-up, but TechCrunch reported earlier that Jump was considering an acquisition from Uber for more than $100 million.

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