Jump Bikes are returning to London – this time through their new owner Lime .
London is the first city in Europe where Jump Bikes have returned since Uber The company was outsourced to Lime in a complex business that took place in May. In a financing round led by Uber, Lime, along with other existing investors, raised $ 170 million from Alphabet, Bain Capital Ventures and GV. As part of the business, Lime Jump acquired the electric bike and scooter division that Uber acquired in 2018 for around $ 200 million.
When the deal with Lime was closed, thousands of jump bikes were scrapped in the U.S. and the entire jump team – around 400 employees – lost their jobs. Lime completed the acquisition of Jump in Europe a few weeks after the transaction was closed in the United States. So far it was unclear whether the jump bikes in Europe would suffer the same fate as their colleagues in the USA.
In European cities like Berlin, Brussels, Lisbon, London, Madrid, Malaga, Munich, Paris, Rome and Rotterdam thousands of jump bikes were pulled off the streets. Lime is unlikely to bring jump bikes back in all of these cities. According to sources, Lime plans to use jump scooters and bikes in London, Paris, Rome and Barcelona. Today's announcement appears to be the first step.
The jump bikes are initially available in the Uber app in London. Due to the ongoing system integration, the jump bikes will be added to the Lime app at a later date. The fleet size will start at around 100 e-bikes and will grow as demand increases. The price is £ 1 activation and thereafter 15 pence per minute. Bicycles are used in Camden and Islington, said Lime.
The demand for bicycles seems to have caused Lime to start Jump again. The company announced that Lime's e-bike rental business has seen record usage since the block restrictions were relaxed. The micromobility company said users take longer trips and bicycles are used more often. With more than 4,000 new users, Lime recorded the highest consumption ever in one weekend in one weekend in mid-June. According to Lime, the e-bike network has now enabled over 1.5 million trips through 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 e-scooter pilot program would begin on Saturday. Lime has partnered with global insurance giant Allianz to insure Lime e-scooter drivers in the UK. Lime said it worked with Allianz to design a two-year security campaign that is set to run until March 2022.