Ride-sharing companies are looking for ways to diversify their services and bike-sharing is an area that is gaining popularity. Lyft’s competitor Uber acquired e-bike startup Jump in April and is also investing in electric scooters. Lyft believes that acquisition of Motivate will help to grow and expand the services of both companies. Lyft was able to raise $600 million last week in fresh funds in a financing effort that included firms like Fidelity Investments.
Meanwhile, Uber is thinking of offering a subscription service for its e-bike business called Jump+. Uber’s Jump Bikes sent an email to its customers inviting them to try out their new service. But the subscription fee, which is estimated to work out to around $600 a year, comes close to the cost of buying one’s own e-bike. This is likely to raise eyebrows but Uber said the email was sent to get a feel of customer sentiments and that the service was not yet live.