Jump Bikes initially set itself up in 2010 by selling electric bicycles to cities, and eventually became a rental service in its own right in 2013, with its own custom-designed two-wheeler EVs.
The startup, through its partnership with Uber in San Francisco under the name 'Uber Bike' made its service available on a wider platform through the latter's app since the 31st of January. It appears now that Uber has seen the potential that lies in the two-wheeler rental market, sources familiar with the matter have told Bloomberg that the company will be acquiring Jump Bikes for $100 million.
Jump Bikes, with its fleet of 250 neon-red electric vehicles, charges $2 for every half-an-hour of a ride. Given that it operates in only two cities currently - San Francisco and Washington DC - being acquired by Uber could potentially allow it to significantly scale up its offerings, as per Jump Bikes' CEO Ryan Rzepecki:
"Joining Uber presents us with the opportunity to realize our dreams faster and at a much larger scale... The JUMP brand will also continue and we hope it will represent the best in bike share technology and responsible operations."
Bicycle rentals have seen enormous success in China to the point of equipment oversupply, and its electric counterparts are seeing steady proliferation in American cities, too, and Uber very clearly wants a piece of this pie.
Image via Jump Bikes