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Uber gets into bike-sharing business with Jump

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Uber is buying New York-based electric-bike startup Jump Bikes that operates in 40 US cities. In a blog post, Uber chief executive Dara Khosrowshahi said that the company had reached a deal to acquire Jump adding bike sharing to its transportation options.

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"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," Khosrowshahi said in a blog post.

 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. Jump is Uber's first acquisition since Dara Khosrowshahi took over as the company’s chief executive in August. Both Uber and Jump say the goal is to offer multiple modes of transportation within the Uber app, to give users options to fast and affordable transportation and make it easier to live without owning a car.

"We're excited to begin our next chapter and to play a significant part in the transition of Uber to a multi-modal platform," Jump Bikes founder and Chief Executive Ryan Rzepecki said in blog post Monday. "Joining Uber presents us with the opportunity to realize our dreams faster and at a much larger scale." The Jump brand will continue as part of the Uber family, Rzepecki said.

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The deal comes a few months after Uber launched a pilot program to integrate Jump services into the Uber app in San Francisco. The pilot, which enables people to find and reserve the bikes through the Uber app, is "off to a very strong start," Khosrowshahi said.
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