Jump bikes are back in London - this time thanks to new owner Lime .
London is the first city in Europe to see the return of Jump bikes from Uber unloaded the company in Lime within the framework of a complex agreement which took place in May. Lime has raised $ 170 million in a funding cycle led by Uber, along with other existing investors Alphabet, Bain Capital Ventures and GV. As part of the agreement, Lime acquired Jump, the division of electric bikes and scooters that Uber acquired in 2018 for approximately $ 200 million.
When the deal was signed with Lime, thousands of Jump bikes were scrapped in the United States and the entire Jump team - some 400 employees - lost their jobs. Lime completed the acquisition of Jump in Europe several weeks after the closing of the transaction in the United States. Until now, it was unclear whether Jump bikes in Europe would suffer the same fate as their counterparts in the United States.
Thousands of Jump bikes have been removed from the streets of European cities such as Berlin, Brussels, Lisbon, London, Madrid, Malaga, Munich, Paris, Rome and Rotterdam. Lime is unlikely to deliver Jump bikes in all of these cities. Sources said Lime plans to redeploy Jump scooters and bikes in London, Paris, Rome and Barcelona. Today's announcement appears to be the first step.
For now, Jump bikes will be available in the Uber app in London. Jump bikes will be added to the Lime app at a later date due to ongoing system integration, the company said. The size of the fleet will start at around 100 electric bikes and will increase according to demand. The price will be £ 1 unlocking and 15p per minute thereafter. Bikes will be deployed to Camden and Islington, said Lime.
The demand for bikes seems to have prompted Lime to put Jump back into service. The company said that since the lockout restrictions were relaxed, Lime's electric bike rental service has experienced record usage. The micromobility company said that users take longer trips and bikes are used more frequently. Lime also recorded its highest consumption ever recorded in a single day on a weekend in mid-June with more than 4,000 new users. Lime said its network of electric bikes has now facilitated more than 1.5 million trips across London.
The reintroduction of Jump bikes in London is part of Lime's broader plan to increase its presence in the city. Earlier this week, the UK announced that an electric scooter pilot program would start on Saturday. Lime said it has partnered with global insurance giant Allianz to provide coverage for Lime electric scooter drivers in the UK. Lime said he co-designed a two-year security campaign with Allianz that will continue until March 2022.
