Uber have just splashed the cash on a new bike-sharing company, and although the exact figure is somewhat shrouded in mystery it’s rumoured to be around the $100 million (R1,2 billion) mark.

That’s good news for Jump, the New York City-based e-bike start-up, and if you’re into bike-sharing then it may be good news for you too.

Jump will now become a subsidiary company of Uber, and here’s The Verge with what that really means:

The deal gives Uber access to Jump’s 12,000 dockless, GPS-enabled bikes in 40 cities across six countries — a vast network in the bike-share world that will certainly become even larger as Uber’s capital will help to scale it even further. It also helps fulfill one of the company’s missions to branch out into new modes of transportation…

Uber’s interest in Jump is fairly obvious. The addition of a bike option in Uber’s app raises the possibility that other transportation options, like subways and buses, will also be integrated into the ride-hail service’s app down the line.

Maybe they can take over the Metrorail system, because we all know that our trains aren’t exactly punctual or reliable.

As it stands, here’s Business Insider with the service that Jump offers:

Jump Bikes offers “an electric, dockless bike-sharing service” — users pay $2 (R24.18) for every 30 minutes of electric bike they use. The bikes look like relatively standard beach cruisers, as seen above, but with the addition of an electric motor for pedal-free riding.

Electric bikes – when you want the joy of riding without the hassle of actually pedalling.

Of course there are bike-sharing businesses operating around various South African cities, but Uber are all about running a slick operation.

Still, I reckon it will be a while before Uber and Jump’s offering touches down here at home.

Bummer – for now you’re just going to have to deal with being ferried around in a car by your trusty Uber driver.

Tough life.

[sources:verge&businsider]