Uber buys a bikeshare company as it looks beyond cars

Uber has acquired a bikeshare company as it expands beyond cars in its efforts to reshape transportation.The r...

Posted: Apr 9, 2018 3:23 PM
Updated: Apr 9, 2018 3:23 PM

Uber has acquired a bikeshare company as it expands beyond cars in its efforts to reshape transportation.

The ride-hailing company on-Monday said it bought Jump Bikes, a New York-based firm that operates in 40 US cities.

Uber CEO Dara Khosrowshahi said in a blog post that the company wants to make multiple modes of transportation available in its app, including bicycles and subway rides. Financial terms of the deal were not disclosed.

Some of Uber's ride-hailing rivals have already invested in bicycles. In January, China's Didi Chuxing expanded into the huge and fiercely competitive Chinese bike-sharing market. In the United States, Lyft announced a sponsorship of Baltimore bikeshare stations last month.

Bicycles have become trendy because they offer affordable mobility while limiting traffic congestion and pollution.

Fewer people are riding on public transportation in the United States, according to research, as commuters shift to ride-hailing services such as Uber and Lyft. But motor vehicles use public spaces less efficiently, and many cities are looking for solutions to increased congestion.

Related: Electric bikes are having a breakout moment

Uber sees bicycles as a way to offer fast and affordable transportation.

"Our ultimate goal is one we share with cities around the world: making it easier to live without owning a personal car," Khosrowshahi wrote. "Achieving that goal ultimately means improving urban life by reducing congestion, pollution and the need for parking spaces."

Until last year, Jump Bikes was known as Social Bicycles and provided bikeshare systems for city governments across the United States. The company changed its name when it launched its own fleets of electric bicycles, which are available in San Francisco and Washington. The Jump Bikes branding will remain after the acquisition.

Dockless bikeshare companies have spread quickly across the United States in the last nine months after breakout success in China. The bicycles have sparked controversy at times, with critics complaining they can be parked irresponsibly and litter sidewalks.

Related: Dallas's rush into bikeshare turns controversial

Uber is side-stepping this controversy with the acquisition of Jump Bikes. Its bicycles are designed with a lock built in, so riders lock the bicycles to a rack or pole.

In January, Uber began offering San Francisco customers a way to reserve Jump Bikes from within its app. Jump Bikes CEO Ryan Rzepecki credits that tie-up with boosting the exposure of his startup's bicycles. The bikes are getting ridden more than six times a day on average, according to Rzepecki.

Given Uber's scale, Rzepecki expects to be able to spread Jump's bikes further and faster. In 2019, he plans to make a significant push into Europe.

"We don't have to worry about acquiring customers," Rzepecki told CNNMoney. "Now it's just about shifting mode and perception and getting people willing to try a bike instead of a car."

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 148387

Reported Deaths: 3769
CountyCasesDeaths
DeSoto9874101
Hinds9821198
Harrison6982110
Jackson6218119
Rankin5417102
Lee498495
Madison4711106
Forrest375086
Jones352488
Lauderdale3412145
Lafayette319749
Washington3153107
Lamar286349
Oktibbeha243562
Bolivar240884
Lowndes232864
Neshoba2189118
Panola218849
Marshall211950
Leflore203490
Pontotoc199128
Monroe196077
Sunflower191055
Lincoln187865
Warren174157
Tate166951
Union165325
Pike160958
Copiah160440
Yazoo152939
Scott151829
Itawamba151134
Coahoma149543
Pearl River149467
Alcorn148228
Simpson146353
Prentiss143730
Adams139250
Grenada138845
Leake133243
Holmes127861
Tippah123730
George123524
Covington120938
Winston120024
Hancock117639
Wayne116923
Marion114846
Attala111234
Tishomingo108742
Chickasaw106932
Newton104229
Tallahatchie96727
Clay89927
Clarke89153
Jasper81722
Walthall76028
Stone75214
Calhoun73713
Montgomery72825
Carroll71415
Lawrence70714
Yalobusha70527
Smith70316
Noxubee70017
Perry65826
Tunica60219
Greene59722
Claiborne57916
Jefferson Davis56017
Humphreys53119
Amite52714
Benton49017
Quitman4846
Webster42314
Kemper42118
Wilkinson38722
Jefferson34711
Franklin3345
Choctaw3157
Sharkey30817
Issaquena1144
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Alabama Coronavirus Cases

Cases: 241957

Reported Deaths: 3572
CountyCasesDeaths
Jefferson31809500
Mobile19651361
Madison12964148
Tuscaloosa12946154
Montgomery12263236
Shelby1016177
Baldwin857698
Lee771866
Morgan648050
Calhoun6215119
Etowah618266
Marshall618255
Houston522438
DeKalb480436
Cullman433442
Limestone418645
St. Clair413655
Elmore403764
Lauderdale396754
Walker3620111
Talladega347954
Jackson311723
Colbert306042
Blount287940
Autauga270442
Franklin250233
Coffee242015
Dale231754
Dallas225232
Russell22123
Chilton220638
Covington218034
Escambia197931
Chambers176450
Tallapoosa175491
Pike158114
Clarke157619
Marion137136
Winston131123
Lawrence126336
Pickens121618
Geneva12108
Marengo120224
Barbour117010
Bibb117017
Butler115341
Randolph101921
Cherokee101024
Hale96031
Clay91024
Washington90719
Fayette89316
Henry8526
Lowndes79429
Monroe78311
Cleburne76914
Macon73022
Crenshaw70930
Bullock69419
Conecuh68314
Perry6836
Lamar6678
Wilcox63118
Sumter57522
Greene42318
Choctaw42113
Coosa3414
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