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Uber to acquire bike-sharing company

Uber to acquire bike-sharing company
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Uber is set to acquire an electric bike-sharing start-up, the company announced on Monday.

Uber CEO Dara Khosrowshahi said in an online post that it has reached an agreement to buy JUMP Bikes, which currently operates in San Francisco and Washington, D.C.

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“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,” Khosrowshahi said.

Uber said it has been conducting tests in San Francisco on the JUMP bikes.

“Our hometown pilot is off to a very strong start, with riders enjoying a convenient and environmentally friendly way to cruise up and down our trademark hills,” said Khosrowshahi.

JUMP formally rolled out its first bike-share in 2017 and plans to expand to other cities before the end of this year.