Rarely does an industry have such a quick rise and sudden drop as the bikeshare business has had in Seattle. Last year it would have been odd if you didn’t see a mass of multicolored bicycles across the streets, from red Jump bikes to the yellow Ofos and green Lime bicycles.
Lime took its 2,000 bikes off Seattle streets in December and now the Jump bicycles will be temporarily absent, as well, with Lime taking over the red bike’s business operations this month. Lime acquired Jump on May 7 after Uber, which owned the latter, led a $170 million investment in Lime that “reaffirms Lime’s market strength and positions the company to build a long-lasting business that empowers people with sustainable, safe and affordable transportation options,” the company said in an announcement.
This comes as the bike rental business has fallen off a cliff during the COVID-19 pandemic. There were just 23,400 trips in April, compared to 158,600 trips in April 2019, according to Seattle Department of Transportation (SDOT) data.
“We recognize that the COVID-19 has impacted all areas of life including new mobility companies, and we are evaluating our options with these impacts in mind,” SDOT spokesperson Ethan Bergerson said in an email. Continue reading