July 22, 2017

Gett Acquires Juno: 5 Lessons For the Sharing Economy

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Image: Courtesy of Gett

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 […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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