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 […]