According to TechCrunch, the purchase cost Uber around $200 million. Even with the acquisition, the bikes are still only available in San Francisco, and before Jump can expand beyond its current 250 bike offering, the San Francisco Municipal Transportation Authority needs to evaluate Jump's first nine months of business. That decision will happen in October.

In an interview with our sister publication, Jump CEO Ryan Rzepecki said that Uber's new leadership and a new direction for the ride-hailing service are what convinced him to sell. That, and the company is pushing toward becoming an urban-transit provider and is making it easier to get around without the need for owning a car, or in this case, bike.