Uber and Lyft are reportedly giving drivers cash to buy shares in their respective IPOs

TechCrunch | 2/28/2019 | Staff
marisha (Posted by) Level 3
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Uber and Lyft are reportedly going to give money to some of its drivers to enable them to buy stock in the transportation companies’ respective initial public offerings, the Wall Street Journal reported earlier today.

Citing people familiar with the matter, the WSJ says both Uber and Lyft will reward some of their more active or long-time drivers with a cash award with an option to buy stock in the initial public offerings. Uber’s program will reportedly be worth hundreds of millions of dollar and based on a sliding scale that takes into account the driver’s time working for Uber, as well as the number of trips or deliveries made.

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