JUMP Bikes weighing Uber $100M+ acquisition, funding gives – TechCrunch
JUMP Bikes, the on-demand biking service that integrates with Uber, has been weighing each acquisition and funding gives.
A call has not but been reached, however proper now potential choices embrace a sale to Uber at a value that exceeds $100 million, or a enterprise funding spherical, a number of sources inform TechCrunch. One of many potential investor names that has been floated is Mike Moritz of Sequoia Capital, however we’re instructed that JUMP has a number of choices.
We’re additionally instructed that varied events have been upping their gives over the previous week, as they fiercely compete to get possession of JUMP.
“E-bikes” are anticipated to grow to be extra standard, the place customers are capable of finding and lease bikes shortly through apps. They’re half common bike and half electrical, which makes it simpler to go up hills.
JUMP launched as Social Bicycles practically a decade in the past, however the startup not too long ago rebranded as JUMP when it introduced its $10 million Sequence A funding spherical a couple of months again. Menlo Ventures and Sinewave Ventures invested.
Since then, JUMP has launched a partnership with Uber, accessible in choose cities like San Francisco and Washington, D.C. Customers are capable of establish a close-by bike through the Uber app and are given a PIN to unlock it. They don’t require bike docks, which means they are often picked up and dropped off all over the place. It prices $2 for each 30 minutes.
JUMP additionally has its personal separate app.
We’ve reached out to JUMP and Sequoia for remark. Uber declined to remark.
TechCrunch’s Megan Rose Dickey not too long ago wrote about JUMP’s enlargement:
It “plans to launch in Sacramento and Providence, Rhode Island later this year. Through its software and hardware offerings, it operates via third-parties, like cities, campuses and corporations, in 40 markets including Portland, New Orleans and Atlanta.”
The corporate additionally competes with GoBike and Spin. On-demand scooters like Hen and Limebike are additionally rising companies within the city transportation area.