39 WOOSTER ST, FL 3 New York, New York 10013 United States
Warrants/CLA Note
The fair value of the above reflects a Total gross return to OurCrowd of approximately $22M. This return represents the latest estimates resulting from the sale of the company to Uber. Please note, final results will be subject to adjustments associated with the transaction and may be different than the fair value reflected above.
The Seed-1 and Preferred A-2 warrants will be automatically exercised in a cashless transaction as part of the acquisition. No action is required from investors in these rounds.
Description
In 2017, Social Bicycles launched JUMP, the first ever dockless electric-assist bikeshare program in the US. In early 2018, JUMP entered into partnership with Uber, the world leading ridesharing and transportation network. Uber and JUMP launched Uber Bike, enabling Uber customers to reserve JUMP bikes through the Uber app. JUMP has stationed fleets in San Francisco and Washington, D.C., with 2018 expansion planned for Sacramento-Davis, Santa Cruz, Providence, Seattle, and Los Angeles. Although the JUMP e-bike system is new, JUMP bikes has been shaping the future of bikeshare since 2010. The company brought freedom to bikeshare systems with Social Bicycles, revolutionary smart-bikes with integrated GPS, payment systems, and locks that kicked off the dockless revolution. The company has deployed 15,000 bikes into 40 different markets and six countries, and recorded over five million rides over the past four years.
Founder and CEO Ryan Rzepecki Ryan has a BS in Marketing from Penn State University and a Masters in Urban Planning from Hunter College. He previously worked for the NYC Department of Transportation as a bike planner before founding Social Bicycles in 2010. His passion is to advance multi-modal transportation systems by providing the ultimate first/last mile solution.
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