Uber to buy electric cycle-sharing startup JUMP Bikes

By: Reuters | San Francisco |
Published: April 10, 2018 4:39:48 pm

The deal signals a shift for Uber toward a wider set of transportation options in urban centers.

Ride-hailing company Uber Technologies Inc said on Monday it has agreed to buy electric bicycle service JUMP Bikes, allowing Uber to offer US passengers an alternative to cars and further consolidating the crowded bike-sharing industry.

JUMP is a dockless electric bike service that has rolled out in San Francisco, where it has 250 bikes, and Washington. About 100 JUMP employees will join Uber, an Uber spokeswoman said. Terms of the deal, which the spokeswoman said is expected to close in the coming weeks, were not disclosed. The deal furthers Uber’s goal of offering “the fastest or most affordable way to get where you’re going, whether that’s in an Uber, on a bike, on the subway,…

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