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Uber acquires Jump bike-sharing startup

by Justin King

Jump\'s electric bikes are GPS-enabled and dockless, locking to any random bench or pole in the city.

Uber has acquired Jump Bikes, a startup that operates a shared fleet of electric bicycles.

The ride-hailing company says its ultimate goal is to make life easier to live without owning a personal car, and not just through carpooling.

"That's why 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," says CEO Dara Khosrowshahi.

The executive suggests Uber is preparing to make other changes to its app, introducing "additional ways to move around your city." His statement suggests the app could integrate subway navigation alongside ride-hailing and bike rental to get users from place to place.

The Jump acquisition also likely serves as a hedge if Uber's autonomous car project ends in failure. The company has previously labeled self-driving cars an existential threat to its business model.