Uber Drivers to get shares in the upcoming IPO
Uber Technologies Inc is planning to give its most active and longest serving drivers a cash reward and an option to buy stock in their listings (initial public offering) in a bid to improve the driver relations.
The Uber program, which is similar to one by Lyft will reward the drivers based on length of the service and those who have logged the most miles.
According to Reuters, Uber is working on a stock program that would give approximately 3 million drivers a cash bonus, which they can use to purchase shares at the IPO price.
Uber drivers in countries where securities laws prohibit purchasing of shares will be limited to the cash reward.
As for Lyft, drivers who have completed at least 10,000 rides on the platform will get $1,000 and those who have logged 20,000 rides will get a maximum of $10,000, which can either be kept as a cash bonus or used to buy the IPO shares.