Uber just bought the dockless Bike Sharing Company Jump

Uber is getting reborn. After recently passing through a period of fire which led to their founder leaving the company, and them getting a new CEO, the company seems to have put things behind it, and as moved on. The ride-hailing company recently announced that it will acquire Jump, the New York City-based e-bike startup that has been working with Uber for two months on a pilot to integrate bike-sharing options into Uber’s app.
Uber wants to expand by purchasing the firm Jump
Uber purchases Jump. May Uber lift 😉 up. 
As usual, the size of the deal was not disclosed, though, as reputable website TechCrunch reported, Jump was weighing a $100 million offer from Uber or a new venture investment round. In a blog post, CEO Dara Khosrowshahi said the acquisition will help in his mission of “bringing together multiple modes of transportation within the Uber app so therefore you can choose the fastest or most affordable way to get where you’re going, whether that’s in an Uber, on a bike, on the subway, or more.” 

So you might ask 100 million dollars is a lot of money. What is in for Uber. Well, the deal gives Uber access to Jump’s 12,000 dockless, GPS-enabled bikes in 40 cities across six countries, a vast network in the bike-share world that will certainly become even larger as Uber’s capital will help to scale it even further. It also helps fulfill one of the company’s missions to branch out into new modes of transportation.

Don't we all love it when a Tech company tries to innovate and grow in spite of all its challenges. This is us wishing Uber all the best. Because they need it. 

Disclaimer: Comments and opinions expressed are solely the rights of the user and not a representation for TechSledge. Report
Disqus Comments
© Copyright 2019 TechSledge | All Things Technology - Unending Innovations. - All Rights Reserved