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posted by chromas on Saturday April 14 2018, @04:28AM   Printer-friendly
from the jumpstart dept.

Uber is getting into the dockless bicycle-sharing business with an acquisition reportedly worth $100-200 million:

Uber has acquired bike-sharing startup JUMP for an undisclosed amount of money. This comes shortly after TechCrunch reported that JUMP was in talks with Uber as well as with investors regarding a potential fundraising round involving Sequoia Capital's Mike Moritz. At the time, JUMP was contemplating a sale that exceeded $100 million. We're now hearing that the final price was closer to $200 million, according to one source close to the situation.

JUMP's decision to sell to Uber came down to the ability to realize the bike-share company's vision at a large scale, and quickly, JUMP CEO Ryan Rzepecki told TechCrunch over the phone. He also said Uber CEO Dara Khosrowshahi's leadership impacted his decision.

[...] JUMP is best known for operating dockless, pedal-assist bikes. JUMP's bikes can be legally locked to bike parking racks or the "furniture zone" of sidewalks, which is where you see things like light poles, benches and utility poles. The bikes also come with integrated locks to secure the bikes.

Also at VentureBeat, Recode, and The Mercury News.

Related: New Electric Bikes, Scooters, and Dockless Bicycles Hitting U.S. Streets

Original Submission #1Original Submission #2

Related Stories

Lyft Acquires America's Largest Bike-Sharing Company, Motivate 9 comments

Lyft buys the biggest bike-sharing company in the US

Lyft has acquired Motivate, the bike-sharing company that operates Citi Bike in New York City and Ford's GoBike program in San Francisco. Terms of the deal were not disclosed, though it was reported in June to be around $250 million.

Motivate, which Lyft says accounts for about 80 percent of bike-share trips in the US, also operates networks in Chicago; Boston; Washington, DC; Portland, Oregon; Columbus; and Minneapolis. Lyft says it "will invest to establish bike offerings in our major markets and pursue growth and innovation in the markets where Motivate currently operates," but it's unclear where or when it might expand beyond the cities Motivate is currently in. The company also did not share when Motivate's bikes will be available in the Lyft app.

Also at NYT and TechCrunch.

Previously: Uber May Try to Buy Citi Bike Parent Company Motivate

Related: New Electric Bikes, Scooters, and Dockless Bicycles Hitting U.S. Streets
Uber Buys Electric Bicycle-Sharing Startup JUMP Bikes

Original Submission

New Electric Bikes, Scooters, and Dockless Bicycles Hitting U.S. Streets 10 comments

Two-wheeled electric vehicles have benefited from improvements in battery technology:

As car companies make strides toward expanding the reach of electric cars in the U.S., the same is happening in the world of two wheels. Outside the U.S., motorcycles, mopeds and scooters are vital, affordable forms of transportation that alleviate congestion. They also run on fossil fuels, and many of the smaller motors are more polluting than regular cars.

In the U.S., these smaller vehicles largely have been leisure devices. But as battery technology improves and cities get denser, some startups are seeking to produce cheaper and greener mopeds, scooters and motorized bikes. When John McChesney reported on e-bikes for NPR in 2008, they were pretty much a new thing in the U.S. Electric bikes have a long history but re-emerged after the turn of the century.

Meanwhile, dockless bikesharing programs, popular in China, have made their way to the U.S. The bicycles are located using GPS, unlocked using smartphones, and parked almost anywhere. Entrants such as LimeBike, Mobike, Spin, and Ofo are competing against existing bikeshare initiatives and public-private partnerships that use fixed docks. Dockless bicycles have made their way across the nation, sparking skepticism, 911 calls, and thefts.

Cycling gadgets: the invisible trackers and dockless bikes shaping 2018

Dockless bike-sharing startup LimeBike is working on creating virtual parking spots

Original Submission

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