Uber buys a Bike-share company Because it Appears beyond cars

Uber buys a Bike-share company Because it Appears beyond cars

It would be the first acquisition for Uber since Dara Khosrowshahi took over as the company's chief executive in August.

According to Reuters, about 100 JUMP employees will join Uber ranks as part of the deal. We will of course look to our many teams to help JUMP scale in our uniquely Uber way!

Khosrowshahi said in an interview that Jump was "a flawless fit" for Uber's expanding portfolio beyond its core ride-hailing service. Currently, bike-share companies aren't subject to almost as many regulations, so this could be a smart tactic for Uber - that is, if they aren't tempted to develop self-driving bikes, which would be an unwise move, to say the least. This is proof that JUMP e-bikes allow you to go farther, faster, and have more fun.

The ride-hailing company on Monday said it bought Jump Bikes, a New York-based firm that operates in 40 U.S. cities. Each bike is also being used six to seven times a day.

Didi said it would start off with a auto service, but according to Reuters, it is also considering allowing users to hire motorcycles and bikes.

Integrating bike sharing into Uber's platform will enable users to bike to a place where it's more convenient or cheaper for a driver to pick them up.

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Uber is expanding beyond four wheels and is jumping right into the dockless bike wars. Its bikes are all designed using a lock built in, so riders lock the bikes to a rack or pole.

JUMP, for those of you who are unfamiliar, is a company that's been making a name for itself by doing bike sharing a little differently. Both Uber and Jump work on a similar product, and it makes sense for them to collaborate on sustainable public transport.

Bike services are a more affordable means to complete first- and last-mile trips to Uber's suite of services. Earlier in January, JUMP bikes had integrated its service with Uber's smartphone app in San Francisco. In India, for example, Ola is experimenting with Ola Pedal, a bike-hiring provision, though its availability is still limited. It costs $2 for 30 minutes of ride time.

Meanwhile, Uber's Khosrowshahi is also positive about the new acquisition.

Some of Uber's ride-hailing rivals have already invested within cycles.

"Our ultimate goal is one we talk about cities around the world: which makes it simpler to live with owning a own motor vehicle", Khosrowshahi wrote.