Uber beats Lyft with IPO payout to drivers
Uber drivers might not get health insurance or other benefits, but after the ride-hailing company filed to go public Thursday, it’s paying out long-time drivers with a cash reward and an option to invest in the company.
In its filing with the U.S. Securities and Exchange Commission, Uber spells out details about a driver appreciation reward and directed share program. It’s a way for drivers to get something back from the company, even though they aren’t technically Uber employees.
More than 1.1 million drivers are eligible for a payout of $100, $500, $1,000, or $10,000 (totaling about $300 million). Drivers in good standing who have completed 2,500, 5,000, 10,000, or 20,000 lifetime trips as an Uber driver will receive the corresponding cash reward. Read more…
Source: Mashable – Uber beats Lyft with IPO payout to drivers