Uber bought another company, but this time it’s the bike-share Startup JUMP. The ride-hailing giant announced this week that it has acquired the New York City-based startup for an undisclosed amount.
The deal comes days after TechCrunch reported that the startup was in serious talks with Uber. Additionally, the tech-focused website also reported that the startup has plans to conduct a fundraising campaign involving Sequoia Capital’s head Mike Moritz. The final price was around or closer to $200 million, according to TechCrunch.
Uber is no longer a stranger to the New York City-based startup.
The two have been working for months on a pilot program to integrate a bike-sharing option into Uber’s core mobile app. The integration will likely to continue and succeed as the startup becomes part of the Uber company.
About the acquirer, Uber
Founded in March 2009, Uber is a US-based tech company that specializes in peer-to-peer ridesharing, food delivery and logistical service. The company operates and maintains a vast global presence, operating in over 633 cities. The company currently offers various service levels and types, which include UberX, UberPOOL, UberEats, UberCHOPPER, UberRUSH, UberAir, UberBOAT, Uber Bike and more. However, not all of these service levels are available in every region.
Some experts believe that the company's latest e-bike addition will also open the door for other transportation options, such as buses and subways. This also raises the possibility of adding new features to the company’s ridesharing app. Uber is no longer new to the bike-sharing business. The company has already announced a pilot program, which integrates an e-bike service into the company’s core mobile app, in San Francisco.
Uber’s latest deal could be the company’s first big step in its not-so-secret ambition to get big in the fast-growing bike-sharing market.
About the acquired startup, JUMP
Founded in 2010 and based in New York City, JUMP is a dockless, pedal-assist bike-sharing startup. The company is best known for operating dockless bikes that can be legally locked to bike parking racks such as light poles or benches.
The company’s bikes also come with dedicated locks to secure the bikes, according to startup profiling site CrunchBase.
In addition, the company also introduced to the world the Social Bicycles, the industry’s first ever smart-bike that comes with an integrated GPS, locks and even payment system. The company’s competitors in the market include the Alibaba-backed Ofo, Mobike, Hellobike and Spin/Skinny Labs.
Before its deal with Uber, JUMP had secured $ 10 million in its Series A funding round. Menlo Ventures and Esther Dyson led this funding round.
