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Uber is buying electric bike sharer Jump

Uber is buying electric bike sharer Jump
[Photo: courtesy of JUMP]

It’s not known how much Uber is paying for Jump, but the startup had previously raised $11.6 million, reports Recode. Jump is the only dockless bike sharer in San Fransisco. Despite that, the company only has 250 bikes available for hire due to limitations placed on it by the city, which has an exclusive contract with Ford’s GoBike, which uses docking bays for its bike share. In its first month of operation, Jump said each of its 250 bikes saw four trips a day on average and the average distance traveled was 2.6 miles. Uber’s acquisition of Jump isn’t totally out of the blue. In January Uber entered into a partnership with the company to run its pilot program in San Fransisco. Addressing the acquisition, Jump CEO Ryan Rzepecki said:

“At our core, we are still the same team that is passionate about partnering with cities to increase cycling, but joining Uber presents us with the opportunity to realize our dreams faster and at a much larger scale. Jump will continue to operate in a way that remains true to our roots, and we will remain good partners to cities while delivering excellent service to our riders.”

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