Sunday , April 18 2021

Uber pays drivers $ 40,000 to celebrate their IPO



a wolf on a street streetParamount Pictures

  • Uber drivers should receive up to $ 40,000 as a "driver's gratitude reward" before the initial public offer of the company.
  • The Olympic giant is hoping to pay some $ 300 million to more than 1.1 million drivers this weekend.
  • Uber drivers will receive one of six different cash prizes based on the number of trips they have completed.
  • Uber also booked 5.4 million shares for drivers at the IPO price, which is expected to be between $ 44 and $ 50.
  • Visit MarketsInsider.com for more information on Uber.

Uber drivers should receive up to $ 40,000 as "driver's gratitude reward" before the initial public offer of fishing fishing.

The company announced in a Securities and Exchange Commission filing on Friday that it would pay around $ 300 million for its more than 1.1 million drivers worldwide. It is expected to make payments on or around April 27.

"To recognize the drivers who took part in our success, we pay a one-time cash grant to the driver for gratitude to reward qualified drivers in jurisdictions where we operate through our own operations," Uber said in the submission.

Similar American drivers will receive one of six different cash prizes based on the number of trips they wish to finish. Drivers are able to earn $ 100 to make at least 2.5 trips, $ 500 for at least 5000 trips, $ 1,000 for at least 10,000 trips, $ 10,000 for at least 20,000 trips, and 20,000 for at least 30,000 trips.

The biggest prize – for 40,000 trips – is $ 40,000.

To qualify for the prize, drivers must have completed at least 2,500 trips in urban areas, including one this year of April 7 and their account must be in good standing. Payments to non-US drivers will be tailored to reflect different average occasions throughout the regions.

Uber also gives the chance to its drivers to buy shares before the public. It booked 5.4 million shares for drivers through a targeted sharing program. Drivers who qualify for the driver's gratitude reward will be able to buy those shares at the price of an IPO, which Uber expects to be between $ 44 and $ 50 per share.


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