SAN FRANCISCO — Lyft plans to offer cash bonuses to the most prolific drivers on its network. The ridesharing company, in connection with its milestone year when its expected to go public, will be paying bonuses to the most dedicated drivers on its platform as recognition for their contributions to its success.
Lyft said it will pay a cash bonus of:
- $1,000 to drivers in good standing who have completed at least 10,000 rides but fewer than 20,000 rides on its platform as of February 25, 2019;
- $10,000 to drivers in good standing who have completed at least 20,000 rides on its platform as of February 25, 2019; or
- $1,000 to drivers in good standing who are serving on, or who have served on, its Driver Advisory Council as of February 25, 2019.
As part of this program, drivers will receive only one bonus, which will be the largest bonus for which they are eligible. These bonuses are expected to be paid to eligible drivers on or about March 19, 2019.
The $10,000 bonus for 20,000-ride drivers amounts to 50 cents extra for each ride.
In addition, Lyft announced that these same drivers shall be given the opportunity to use their bonuses to purchase shares of Lyft’s Class A common stock in its proposed initial public offering at the initial public offering price through a directed share program. While these drivers may choose to use their bonus to purchase shares through the directed share program, they are under no obligation to do so.