Tuesday, 24 April, 2018

Uber acquires dockless bike-sharing start-up JUMP for $200 million

Grab's Uber deal still has obstacles to navigate Philippines regulator orders pushback in Uber's shutdown amid ongoing review
Sherry Houston | 10 April, 2018, 20:37

The deal comes two months after Uber partnered with Jump in San Francisco to make bike rentals available through the Uber app. Dockless bike shares, which allow users to leave their rides just about anywhere when they're done with a journey, have quickly become a huge business in China and are rapidly expanding into some U.S. cities. There are only 250 JUMP bikes available in San Francisco, though that number will double by the time September rolls around.

JUMP Bikes is a service similar to Uber that allows users to borrow pedal assist electric bikes. You might want to use an Uber taxi but then finish the journey on a bike.

Based on Uber's decision to buy JUMP within 60 days, feedback from users must have been positive.

In a blog post earlier this year, Uber wrote: "We're particularly excited about bikes because they can provide a convenient, environmentally friendly ride even in dense cities where space is limited and roads can be congested". "We see the Uber app as moving from just being about vehicle sharing and auto hailing to really helping the consumer get from A to B in the most affordable, most dependable, most convenient way", Uber CEO Dara Khosrowshahi told the publication. "New Yorkers have embraced public bike sharing faster than anyone expected", said de Blasio in a statement.

Khosrowshahi's rationale is that Uber's "ultimate goal" of "making it easier to live without owning a personal car" means it has to host multiple modes of transport.

For now, Jump bicycles are also available in Washington DC. It was the originator of the self-locking dockless bike and operates more than 30 bicycle-sharing services around the world. By the end of February, its first full month of operation, the company said each of its bikes saw up to four trips per day at an average distance of 2.6 miles.

As Reuters notes, this acquisition could potentially put Uber back on the map in global markets where it has struggled. In the past year, Jump has transitioned from a company that sells its dockless bikes to operating its own fleets.

Mr Khosrowshahi described the platform as a "stellar product". Such concerns have led many large United States cities to cap the number of bikes allowed or resist dockless bike-share entirely.

Uber, which already has a tie-up with Jump in San Francisco, said it would now look to "scale" the bikes globally.

"When we first began talking to Uber they were going through an extremely hard time, with negative headlines each week and a massive change in leadership", writes JUMP Bikes founder and CEO Ryan Rzepecki in the obligatory Medium post.

Recommended

  • Ferrari handed big fine for Raikkonen unsafe release

    Ferrari handed big fine for Raikkonen unsafe release

    Ferrari later tweeted that the mechanic, named only as Francesco, likely sustained a "shinbone and fibula fracture". Our plan worked but just, Bottas had a bit of a sniff but ran out of laps", said the four times champion.
    Raikkonen fastest in Bahrain 2nd practice

    Raikkonen fastest in Bahrain 2nd practice

    With such fine margins, any one of the three teams could prove to be quickest during Sunday's race. Ricciardo's Red Bull team-mate Max Verstappen will start only 15th after crashing out in Q1.
    Canada hockey team bus crash kills 14

    Canada hockey team bus crash kills 14

    The bus driving the Humboldt Broncos had 29 passengers, including the driver, when it crashed at about 5 p.m. Ruschkowski said he was close with head coach Darcy Haugan and he will be missed in the hockey community.
  • Respected PM to satisfy ego: Andhra Pradesh CM N Chandrababu Naidu

    Respected PM to satisfy ego: Andhra Pradesh CM N Chandrababu Naidu

    Kejriwal had recently met Andhra Pradesh Chief Minister N Chandrababu Naidu in Delhi. "This is not democracy, not correct. Lok Sabha members of TDP chose Parliament's Central Hall as the venue of their sit-in protest.
    Sixers top Pistons for 12th straight win behind Ben Simmons, JJ Redick

    Sixers top Pistons for 12th straight win behind Ben Simmons, JJ Redick

    Canberra-born Patty Mills scored 17 points for the San Antonio Spurs, who lost to the Los Angeles Clippers 113-110. In the most recent game between the sides, which the 76ers won by 36 points, he was similarly efficient.
    Nokia 6 2018 launched in India

    Nokia 6 2018 launched in India

    That is more or less it, the designer did not share any more spec info for the phone, as this is a concept device after all. For around Rs 2,000 more, you will be getting last year's flagship Nokia device with a flagship Snapdragon 835 processor .
  • Cong leaders gobble chhole bhaturas, other delicacies before daylong fast

    Cong leaders gobble chhole bhaturas, other delicacies before daylong fast

    Speaking to reporters at Rajghat, Gandhi also said the grand old party will defeat the BJP-led NDA in the 2019 general election. The BJP follows ideology of oppressing Dalit, Tribal and minorities.
    LeBron James and Ben Simmons Share Instagram Props After Dueling Triple-Doubles

    LeBron James and Ben Simmons Share Instagram Props After Dueling Triple-Doubles

    Rockets 96, Trail Blazers 94: Chris Paul hit an off-balance layup with 0.8 seconds left to lift Houston past Portland in Houston. Markieff Morris had another understated yet productive all-around game Wednesday with 15 points, five rebounds and four assists.

    Partey: Madrid derby 'more important' for title-chasing Atletico

    However, their lead lasted less than five minutes as Griezmann capitalised on some poor defending to equalise it at 1-1. In the 20th minute, Atletico thought they had taken the lead when Diego Costa fired past Keylor Navas .
  • North Korea tells USA  it will discuss de-nuclearisation

    North Korea tells USA it will discuss de-nuclearisation

    Secretary of State, and the team from the Central Intelligence Agency are dealing with the preparations to the summit. In a separate report , a United States think-tank says North Korea may have started testing a new reactor.
    Arsenal v Southampton - story of the match

    Arsenal v Southampton - story of the match

    Welbeck scored a late victor for Arsenal to inflict more misery on Mark Hughes' Southampton side. Southampton are three points behind 17th placed Crystal Palace but with a game in hand.
    Not* Travel with a Royal Toilet Seat

    Not* Travel with a Royal Toilet Seat

    That campaign was defeated at a referendum in 1999 in which most Australians voted to maintain the status quo. Upon arrival, the couple was greeted in Brisbane by Governor-General Peter Cosgrove with a 21-gun salute.

Brock Lesnar Re-Signs With WWE But Could Still Fight In UFC Brock Lesnar Re-Signs With WWE But Could Still Fight In UFC It is notably reminiscent to 2015 when Lesnar used rumors of a return to the UFC to negotiate a new WWE deal. WWE Chairman & CEO Vince McMahon announced today that Universal Champion Brock Lesnar has re-signed with WWE.

Facebook Has A Two-Tiered Privacy System That Favors Its Leaders Facebook Has A Two-Tiered Privacy System That Favors Its Leaders The researcher then sold the data to Cambridge Analytica , which was against Facebook rules. As a result it's likely to take some time for the full facts to come out.

Bill Cosby's $3.4M settlement: Evidence of guilt or greed? Bill Cosby's $3.4M settlement: Evidence of guilt or greed? The most well-known of the five is 63-year-old model Janice Dickinson, who says Cosby drugged and sexually assaulted her in 1982. In this case, the jury will also be privy to the amount of money Cosby paid Constand when they originally settled the case.

Weightlifter Laurel Hubbard's career ended by injury at Commonwealth Games Weightlifter Laurel Hubbard's career ended by injury at Commonwealth Games She previously said: "It would be untrue to say the thought [of a bad reception from the crowd] never crossed my mind". Despite this, Hubbard put on another 3kg for a 130kg hoist for her next lift.

Ronda Rousey stuns with debut performance at Wrestlemania 34 Ronda Rousey stuns with debut performance at Wrestlemania 34 The match had always been hailed as Rousey's comeback after she lost her title to Holly Holm in 2015. Ronda Rousey killed it. 'This is not a smash and grab, this is not a publicity stunt'.

Police still searching for motive of man behind van crash Police still searching for motive of man behind van crash Police quickly evacuated the area and ambulances, firefighters and helicopters rushed to the scene to aid those who were injured. A 51-year-old woman from Lueneburg in northern Germany and a 65-year-old man from Borken municipality near Muenster were killed.

One more BJP MP joins chorus over Dalit issue One more BJP MP joins chorus over Dalit issue There is a sense of stimulation among the party workers in regard to the direct interaction with the Prime Minister. It was a declaration of war with a firm eye on the 2019 Lok Sabha elections.

YouTube shooter's dad speaks publicly for the first time YouTube shooter's dad speaks publicly for the first time Mountain View police objected to that characterization and in a statement Wednesday detailed their exchange with Aghdam's family. Her mother broke down when it was brought up that the day of the interview, Thursday, would have been her 39th birthday.

Conor McGregor released on $50000 bail Conor McGregor released on $50000 bail Straight after the bus incident, Nurmagomedov called out McGregor and seemed to challenge him to an unregulated fight . Star brawler Conor McGregor is a free man, following a backstage melee in an outburst that could harm his star power.

Orban projected to hold majority in key Hungary vote Orban projected to hold majority in key Hungary vote Pollsters think a high turnout could benefit the opposition. "The Hungarian political landscape will dramatically change today". Speaking at a recent campaign rally, Orban accused the European Union of "trying to take away our country".

US slaps sanctions on Putin's allies US slaps sanctions on Putin's allies The measures announced by the Treasury Department were also aimed at 17 senior Russian government officials. Campaigners against Kremlin corruption welcomed the United States move.

Pochettino on Harry Kane's fitness, Daniel Levy's earnings and Stoke clash Pochettino on Harry Kane's fitness, Daniel Levy's earnings and Stoke clash Any Spurs players feeling underpaid and undervalued could perhaps be angered by that pay boost for the man at the top. Klopp, though, reckoned he was satisfied with a performance that saw Liverpool largely control proceedings.

Investor's Alert (P/E Analysis) - Ford Motor Company, (NYSE: F) Investor's Alert (P/E Analysis) - Ford Motor Company, (NYSE: F) In the meantime, the stock was trading -15.00% prior to its 52-week high and 11.74% before its 52 week lower trend. A stock experiencing a high level of volatility has a higher ATR , and a low volatility stock has a lower ATR .

Future IPhones To Have Curved Screens And Touchless Controls Future IPhones To Have Curved Screens And Touchless Controls The technology could be useful for augmented reality, which is where Apple has put in a lot of effort in the past couple of years. Apple has already changed that notion by removing a home button altogether, but can a smartphone rely on gestures alone?

Kevin Campbell criticises Arsenal and points to Liverpool star Alex Oxlade-Chamberlain Kevin Campbell criticises Arsenal and points to Liverpool star Alex Oxlade-Chamberlain Rio Ferdinand, who was on punditry duties for BT Sport, led the compliment charge with an assured verdict on Oxlade-Chamberlain after the game.