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Juno was owned by the workers - They had equity in the company based on when they started. > But the icing on the cake is Juno's equity offering: 1 billion of
by joeblau 9y ago
Juno was owned by the workers - They had equity in the company based on when they started.
> But the icing on the cake is Juno's equity offering: 1 billion of the company's founding shares reserved just for the drivers. [1]
It was all stripped away when the company was sold off to Gett because of liquidation preference because now.
> But drivers were soon informed by emails from Juno that the stock plan was void. They could instead receive cash payouts amounting to less than what they could make in a day of driving. [2]
[1] - https://www.theverge.com/2016/3/29/11301076/juno-uber-drivers-ride-hail-app-talmon-marco https://www.theverge.com/2016/3/29/11301076/juno-uber-driver...
[2] - https://www.bloomberg.com/news/articles/2017-04-28/juno-sold-itself-as-the-anti-uber-that-didn-t-last-long https://www.bloomberg.com/news/articles/2017-04-28/juno-sold...