Last week Gett , a Tel Aviv-based ride-hailing company, announced it was buying Juno for $200 million. As reported by Johana Bhuiyan of Recode , “While Gett is acquiring Juno’s assets — including its founding team — Juno will still operate as an individual platform for now, called Juno by Gett.” The two ride-hailing companies will join forces, hoping to become the second largest player in the New York City market after Uber, a place now occupied by Lyft.
This could be tough as Lyft provides about 55,000 trips a day in New York City, compared to about 35,000 trips a day with Juno and Gett combined . (Uber, just for comparison, gives 250,000 rides a day in New York.)
But the real challenge Gett and Juno must now address is a backlash from Juno’s drivers, who learned that the stock plan Juno once offered them is now void . Instead drivers can receive cash payouts, which are far smaller than what they expected: about $100 to $200 per person, according to some estimates .
Keren Kessel, a Juno spokeswoman, told Quartz in an email that the company’s stock program is being replaced with a “new cash incentive plan” for drivers who […]