Uber lays out its plan for long-term self-disruption

SAN FRANCISCO, CA - APRIL 12: JUMP bikes sit parked on a street corner on April 12, 2018 in San Francisco, California. Uber announced this week that it has acquired bike share company JUMP for an undisclosed amount of money. JUMP currently has dockless, pedal assisted bikes in San Francisco and Washington DC. Justin Sullivan/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

Uber Technologies Inc is more than just ride-hailing. That’s a key part of the pitch it’s making to investors as the company prepares for an initial public offering this year. In fact, some of Uber’s new lines of business may actively dissuade people from calling one of its cars. 

Rachel Holt, head of the New Mobility division, says that customers who use Uber’s scooters and bikes hire 10% fewer cars through the app. And in at least one market on certain days – the core of Sacramento, California – more people took Uber’s electric bikes than used its cars. On Friday, the company plans to release 100 scooters into the city as well.