The NewCo Daily: Today’s Top Stories
Juno was supposed to be the antidote to Uber and Lyft and all the other gig-economy driving platforms. The startup promised to limit its commissions and share equity with its drivers. Instead of doing piecework for a software-driven boss, you’d actually own a tiny piece of the company that parceled out rides to you.
But now Juno has been acquired by another ride-hailing outfit, the Tel Aviv-based Gett, for $200 million (Johana Bhuiyan in Recode). As a result, it is liquidating its equity-sharing model. Drivers who’d worked enough to qualify are being paid off on the order of two cents a share, receiving payouts in the vicinity of $100.Read More