Uber, Lyft to offer some drivers shares in IPOs: report GlobeBusiness
Ride-hailing firms Uber and Lyft plan to offer cash bonuses to some of its most-active or longest-serving drivers along with the chance to put them into shares from their long-awaited stock market launches, the Wall Street Journal reported on Thursday.
Under Lyft Inc’s plans, drivers who have completed at least 10,000 rides on the platform will get $1,000 and those who have logged 20,000 rides as much as $10,000, the paper said.They would then be able to use the money to buy shares in its initial public offering at the initial offer price widely expected to happen this year, it quoted people familiar with the matter as saying.Uber declined to comment and Lyft did not immediately respond to emails requesting comment.
Wall Street analysts have estimated Lyft could be valued at between $20-billion and $30-billion in the IPO, and Uber at around $120-billion.
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