NEWS COMMENTARY

Uber's lifeline to Lime includes capital and its Jump subsidiary

Published:
May 08, 2020
Coverage:
The Future of Mobility
Activities:
Investment More...
by Chad Goldberg
Very important

While Jump's estimated $60 million per quarter losses were in part due to continuous investment activity, the move supports the expectation of consolidation in an industry hard-hit by COVID-19. However, the key takeaway is that Uber will retain its presence in the space, even if in a nonoperational capacity, as Lime scooters can now be booked via the Uber app, an integration that lends to the company's intent to facilitate multi-modal transportation. While the full extent of the partnership is not clear, the capital injection and transfer of Jump's business operations enable Uber to offload liabilities yet remain active, with an increased equity stake, in an industry that they see promise in and that complements existing services.

For the original news article, click here .


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