- General
- May 24, 2019
- 4 minutes read
Uber Takes Jump To London
image: Jump Uber is expanding its electric bike rental service Jump to London, with a pilot on Friday that’ll comprise 350 bikes with…
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| image: Jump |
Uber is expanding its electric bike rental service Jump to London, with a pilot on Friday that’ll comprise 350 bikes with a first rollout in the north London borough of Islington. Users will be able to unlock the bikes via the Jump app for a pound ($1.27), with the first five minutes of a ride coming at no cost followed by a 12 pence per minute cost thereafter.
The bikes feature an electric pedal-assist system that can take riders across the city at up to 15 miles per hour. Uber is planning to get into other parts of London in coming months. The company, which went public earlier this month, has been getting into new areas to broaden its business reach. Its expansion plans are key to its operations and essential to gain investor confidence after a rocky debut on the public market.
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| image: Jump |
Uber acquired Jump for $139 million April last year, marking its first acquisition under CEO Dara Khosrowshahi. The company later acquired Middle Eastern rival Careem for $3.1 billion, its biggest acquisition so far and the largest known of a a tech company in the Arab Middle East.
