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April 4, 2018

JUMP Bikes weighing Uber acquisition, investment offers

JUMP Bikes, the on-demand biking service that integrates with Uber, has been weighing both acquisition and investment offers.

A decision has not yet been reached, but right now possible options include a sale to Uber at a price that exceeds $100 million, or a venture investment round, multiple sources tell TechCrunch. One of the possible investor names that has been floated is Mike Moritz of Sequoia Capital, but we are told that JUMP has multiple options.

We are also told that various parties have been upping their offers over the past week, as they fiercely compete to get ownership of JUMP.  “E-bikes” are expected to become more popular, where users are able to find and rent bikes quickly via apps.

JUMP launched as Social Bicycles in 2008, but the startup recently rebranded as JUMP when it announced its $10 million Series A investment round a few months back. Menlo Ventures and Sinewave Ventures invested.

Since then, JUMP has launched a partnership with Uber, available in select cities like San Francisco. Users are able to identify a nearby bike via the Uber app and are given a PIN to unlock it. It costs $2 for every 30 minutes.

We’ve reached out to JUMP, Uber and Sequoia for comment.

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