Uber and Lyft are reportedly giving drivers money to purchase shares of their respective IPOs

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Uber and Lyft are reportedly going to provide cash to a few of its drivers to allow them to purchase inventory within the transportation firms’ respective preliminary public choices, the Wall Avenue Journal reported earlier immediately.

Citing individuals aware of the matter, the WSJ says each Uber and Lyft will reward a few of their extra lively or long-time drivers with a money award with an possibility to purchase inventory within the preliminary public choices. Uber’s program will reportedly be value a whole bunch of thousands and thousands of greenback and primarily based on a sliding scale that takes under consideration the motive force’s time working for Uber, in addition to the variety of journeys or deliveries made.

This comes after Uber CEO Dara Khosrowshahi stated in Could that the corporate was trying to provide advantages and insurance coverage to its drivers. The WSJ says Uber has been trying into offering drivers shares within the firm since 2016.

Lyft, however, reportedly plans to provide drivers who’ve accomplished at the very least 20,000 rides $10,000 in a money award or the equal quantity of inventory.

Each Uber and Lyft have confidentially filed for IPOs. Lyft is anticipated to debut on the Nasdaq this coming March. Neither Uber or Lyft have disclosed the variety of shares they anticipate to supply.

TechCrunch has reached out to Uber and Lyft and can replace this story if we hear again.


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