Uber beats Lyft with IPO payout to drivers

Uber drivers might not get health insurance or other benefits, but after the ride-hailing company filed to go public Thursday, it's paying out long-time drivers with a cash reward and an option to invest in the company.

In its filing with the U.S. Securities and Exchange Commission, Uber spells out details about a driver appreciation reward and directed share program. It's a way for drivers to get something back from the company, even though they aren't technically Uber employees.

More than 1.1 million drivers are eligible for a payout of $100, $500, $1,000, or $10,000 (totaling about $300 million). Drivers in good standing who have completed 2,500, 5,000, 10,000, or 20,000 lifetime trips as an Uber driver will receive the corresponding cash reward. Read more...

More about Uber, Ipo, Ride Hailing Apps, Drivers, and Tech

COntributer : Mashable http://bit.ly/2Da5bIi