Uber to Celebrate IPO With Big Payout to Drivers

The soon-to-be-public ride-hailing giant is set to pay up to $40,000 to each of its drivers.

The “driver appreciation reward” dished out by Uber comes just ahead of the company’s initial public offering. The company reports that it expects to pay about $300 million to approximately 1.1 million drivers around the world this coming weekend. Uber also reports that drivers are set to receive one of six cash rewards set up for them, with individual rewards being based on the number of trips they’ve completed.

Uber has also reserved 5.4 million shares for drivers to purchase at the original IPO price. This would net each driver access to $44-$50 shares. These rewards were meant “To acknowledge drivers who have participated in our success, we are paying a one-time cash driver appreciation reward to qualifying drivers in jurisdictions where we operate through owned operations,” according to Uber’s filing.

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