Uber sets out multi-modal transport plan with Jump bikes acquisition

Uber has come out top of the pile in a bidding war for New York bike share biz Jump, which will now become a subsidiary company.

Formerly known as Social Bicycles, rumours of a buyout were circling, with numerous buyers said to have tabled bids. Many have placed the deal in the region of $100 million, although the price of the acquisition has not been disclosed.

CEO Dara Khosrowshahi said in a statement issued yesterday: “we’re committed to bringing together multiple modes of transportation within the Uber app—so that 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.

“JUMP’s CEO Ryan Rzepecki is an impressive entrepreneur who has spent the better part of a decade bringing bike-sharing to life across the globe. I’m thrilled to welcome his team and their stellar product onto the Uber platform.”

At present, Uber users in San Francisco and Washington, D.C. can rent Jump Bikes via the Uber app as part of a pilot scheme. Jump charges just $2 for every 30 minutes of hire with most journeys coming in shy of that length.