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New York Lyft will pay some of its drivers up to $10,000 in cash bonuses ahead of the company's forthcoming IPO -— an unusual benefit for a portion of the independent contractors who are critical to the company's business model.
The drivers who receive a bonus will be given the option to put that money toward stock in the company. Lyft detailed the program in IPO paperwork it filed Friday. It's raising as much as $100 million in its public offering, beating competitor Uber to the punch. The bonus program will provide one-time cash rewards to"recognize drivers who have contributed to our success.
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Why New York Values Ken Griffin’s $238 Million Condo at Less Than $10 MillionNew York City’s complex property tax system requires all co-op and condos to be assessed as if they were rental buildings, resulting in disproportionately low tax bills for some high-value properties.
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Lyft and Uber will let some drivers get stock at the IPO priceThe competing ride-hailing companies have worked out cash bonus programs which will allow some qualified drivers to buy company stock before it pops on the public markets, according to the Wall Street Journal.
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Some Uber, Lyft Drivers to Get Stock in IPOsUber and Lyft are planning to give some drivers the chance to take part in their initial public offerings, a rare move that would grant them access to two of the most hotly anticipated IPOs ever.
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Uber and Lyft drivers will reportedly get stock in the highly anticipated IPOsRide-hailing companies Uber Technologies and Lyft will give some of their drivers a chance to participate in their initial public offerings, The Wall Street Journal reported Thursday.
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Lyft files for IPO, beating Uber to the punchLyft just passed Uber in the race to go public, filing paperwork Friday to raise as much as $100 million in its IPO
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Lyft IPO promises roads to everywhereThe firm is growing fast in a huge market, and there’s a glimmer of a path to profit. But Lyft is also hemorrhaging cash, faces frightful competition and is dependent on robo-cars arriving soon. Wall Street is along for the ride, but public investors will need strong stomachs.
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Lyft outlines IPO plans that may pay big for some of its drivers
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Taxing Uber and Lyft rides is L.A. County's latest idea to free up congested roadsMetro officials will vote Thursday on whether to study taxing Uber and Lyft rides that start in Los Angeles County. A 20-cent fee on each trip could bring in $401 million over a decade for transportation projects, while a $2.75 fee on such trips could raise $5.5 billion, according to Metro.
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