June 22, 2017

Juno promised drivers equity in the future of ride-hailing and gave them $100 instead



Juno app icon
JUNO App Icon

Drivers lost out on Juno. Cory Savary didn’t expect to get rich driving for Juno. But he did think the ride-hailing startup that promised him part-ownership in the company as a driver would stay true to its word.

“I thought even if I wasn’t going to be a millionaire, I could at least get a couple hundred dollars for the blood, sweat, and tears and risking my reputation for these companies,” said Savary, who started driving full-time for ride-hailing apps in 2015 and signed up for Juno last summer.

Juno sold to Gett this week for $200 million, combining the two companies into an interesting third player in the U.S. ride-hailing market. It was the kind of deal that was supposed to mean a payday for Juno’s equity-holding drivers.

Instead, Savary was offered $100.

“This is penny stock — I could make more picking up pennies in Manhattan,” he said.

Attracting drivers is crucial to the success of ride-hailing companies. When Juno launched in New York City about a year ago, its “socially responsible” mission and driver friendly policies helped it convince people like Savary to add it to their rotation alongside Uber, Lyft, Via , and Gett .A big part of that was […]

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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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