Uber is acquiring a bike-sharing company called Jump Bikes for an undisclosed sum, the companies announced Monday.
The deal marks Uber's first acquisition since it appointed Dara Khosrowshahi CEO and sold a stake to SoftBank with the aim of going public next year.
"Our ultimate goal is ... making it easier to live without owning a personal car," Khosrowshahi said in a blog post announcing the deal. "We're committed to bringing together multiple modes of transportation within the Uber app — so that you can choose the fastest or most affordable way to get where you're going, whether that's in an Uber, on a bike, on the subway, or more."
Jump's neon red bikes can be located by users, paid for and unlocked using a smartphone. When riders are done with one of the bikes, they can park them anywhere that's convenient, if it's legal to do so — no kiosks required.