Lime - perhaps best known for its bright green scooters scattered across Brussels - will officially be taking over the assets of Uber Jump in Europe, the company confirmed to the press on Tuesday.
This move marks the completion of the long-expected acquisition of Jump’s e-bike hardware by the company, following $170 million investment in Lime led by Uber with returning backers, Alphabet, Bain Capital Ventures, and GV joining the round, among others.
It was as part of the investment that Lime acquired Jump's business operations and will further expand its mobile app integration with Uber. Today’s announcement marks the completion of that deal, with Lime finalizing the acquisition of all Jump assets in Europe.
“Lime is emerging from the crisis as the clear market leader, with expanded bike options and financing that will position us to build a sustainable long-lasting business," explained Ghassan Haddad, Head of Public Policy for Lime in Europe, Middle-East and Africa.
While the company is understood to still be determining whether cities meet our minimum business volume before an official decision is made on, this decision comes amid rising interest in alternative mobility in Brussels in particular. Bolstered by the coronavirus health crisis, many users are avoiding public transport in general, while the Brussels region continues to invest in cycling in the city".
With the increased resources, Lime intends to offer "safe, sustainable and community-based transportation options to riders and cities as an essential part of reopening the world after the pandemic," the release adds.
"This is important because it allows us to be a reliable and responsible partner to the cities and riders we serve. We can now provide riders with more green, efficient, and safe transportation options," added Haddad.
As for when - and if - the bikes will return to Belgium, the decision is yet to be reached according to the company. "We are still assessing and analyzing the performance of every market to ensure long-term resilience of the business so that we remain a safe and reliable transportation option for cities around the world as we come out of this crisis," Haddad explained to The Brussels Times.
Jules Johnston
The Brussels Times
