Buffalo’s Role in Bike Start-Up’s Uber Acquisition
Congratulations to Jump Bikes! The BNMC is proud to be one of the local nonprofits that were early partners of the original Social Bikes, which is now joining Uber.
This week ride-hailing giant Uber announced its intention to purchase Jump Bikes, an electric bike start-up that has pioneered electric dockless bike sharing services in a deal that is rumored to be valued at between $100 and $200 million.
The BNMC, Shared Mobility Inc. (SMI), and other local partners were thrilled to hear the news since the nonprofits had worked with the organization in its very early days of developing the first public flexible bike sharing service.
The BNMC is proud to have partially funded the first city hub, as well as providing early support to SMI for a bikeshare business plan in 2011. In 2012, New York State Energy Research and Development Authority (NYSERDA) and New York State Department of Transportation (NYSDOT) funded SMI with a $150,000 project to pilot and test the Brooklyn start-up Social Bicycles (now called Jump Bikes). As is the case today, the BNMC was interested in supporting social innovators, particularly those that offered a new business model and benefits for communities.