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 several 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. They are part regular bike and part electric, which makes it easier to go up hills.
JUMP launched as Social Bicycles nearly a decade ago, 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 and Washington, D.C. Users are able to identify a nearby bike via the Uber app and are given a PIN to unlock it. They do not require bike docks, meaning they can be picked up and dropped off everywhere. It costs $2 for every 30 minutes.
JUMP also has its own separate app.
We’ve reached out to JUMP and Sequoia for comment. Uber declined to comment.
TechCrunch’s Megan Rose Dickey recently wrote about JUMP’s expansion:
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 company also competes with GoBike and Spin. On-demand scooters like Bird and Limebike are also emerging businesses in the urban transportation space.