Uber is betting on big shifts in the way people commute to and from work — including battery-powered e-bikes. So much so that the Silicon Valley tech giant is wielding M&A to make sure it keeps up with its many competitors.
This week the ride-sharing innovator announced that it was buying Jump Bikes, a New York-based pedal-assist-bicycle sharing service that operates in 40 U.S. cities.
Terms of the deal remain undisclosed.
The agreement comes just one week after New York City’s Department of Transportation (NYCDOT) announced that it would amend an existing rule to allow for the use of pedal-assist bikes.
The decision provides clarity over whether dockless "e-bikes" — like those provided by Jump Bikes — are legal to operate.
"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," he wrote. "I’m thrilled to welcome his team and their stellar product onto the Uber platform."Read Complete Article