Uber, Lyft drivers to get a piece of IPOs – The Wall Street Journal

DUBLIN — Most tech companies have used IPOs to reward their workers. Employees from the senior level up at companies like Snap, Facebook, and others were given juicy stock options back in the early days, and those options turned into generous rewards when those companies listed. Uber and Lyft are planning to do something a little more revolutionary by giving their lowest-level workers – their drivers – a piece of the IPO action. Apparently, some of the most dedicated long-term Uber and Lyft drivers will be able to get into the IPO at the listing price and will get cash awards to enable them to buy the stock. It's a different take on the classic tech company reward structure, and one with a lot to commend it. In fact, this tactic reminds me of some of the best BEE deals in South Africa, that rewarded employees in a way that aligned their interests with those of the company for the long term. Giving workers a stake in the business they work at can be a smart way to encourage productivity and to let the people who contribute most to the company's success share in the rewards (and, perhaps, the pain in a downturn). The good news is that SA Uber drivers will be able to participate. The bad news is that they may only get the cash payment and may not have the option to buy shares. – Felicity Duncan

Some Uber, Lyft Drivers to Get Stock in IPOs

By Maureen Farrell

(The Wall Street Journal) – Ride-hailing companies Uber Technologies Inc. and Lyft Inc. are planning to give some drivers money to buy stock 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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