April 10, 2018
BY: KATIE FEHRENBACHER
The big daddy of ride sharing, Uber, has officially jumped into electric bike sharing.
On Monday Uber announced that it has acquired Jump Bikes, a ten-year-old venture capital-backed startup that rents out dockless electric bicycles to users around cities. Terms of the deal were not disclosed but a report from last week said that an acquisition was worth over $100 million.
So why has Uber, with its $72 billion valuation and deep global reach, suddenly noticed the company that’s been managing 250 neon red e-bikes in its backyard for a few months (as well as thousands of non-electric bikes in other cities)?
It’s a combination of the right timing for the mobility market, the evolution of the wireless computing and battery technology, and the right positioning for a friendlier Uber (along with a few other things).
Read the rest of the article here: https://www.greenbiz.com/article/why-uber-buying-e-bike-sharing-startup-jump-bikes