WSJ: Uber and Lyft will allow drivers to become shareholders before the IPO

Uber Technologies and Lyft plan to offer some of their drivers a cash reward. But what is interesting that they can exchange cash for shares of companies before the first public offering on the stock exchange (IPO).
The Wall Street Journal shared this information, with reference to interlocutors who are familiar with the plans of companies.
As a rule, shares are distributed to company personnel or sold to large funds before entering the stock exchange. Ordinary investors rarely get this opportunity, so this is a unique opportunity for drivers, according to the newspaper`s statement.
According to WSJ, Uber is going to spend on the program "hundreds of millions of dollars." Monetary rewards will be available to drivers around the world. Although not all of them will be able to spend it on the purchase of shares due to US law.
The amount of remuneration will depend on the duration of cooperation and the number of executed orders. Uber has a total of 3 million drivers and couriers around the world.
Uber has been working on this program since 2016, but the situation is complicated by the fact that drivers are independent contractors and not employees.
According to the WSJ data, Lyft is going to issue $ 1,000 to drivers who have made 10,000 trips, and $ 10,000 to drivers who make 20,000 trips. Drivers will be able to keep this money for themselves or purchase shares using it.
Publication sources expect that Lyft will share any information about a driver rewards program on March 1, when it publishes documents for an IPO. Uber will do this later. Company`s representatives declined to comment.
It should be noted, that Uber and Lyft applied for an IPO in December 2018.
You can find more information about the stock market on GMOTrading platform.
The information above cannot be considered as an investment advice and past results do not indicate future performance.
**Investors should have experience and understand the risks of losing all the initial investment

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