Uber's IPO will create some big winners and a lot of disappointed drivers
SAN FRANCISCO (KGO) -- To say Uber drivers feel they're getting the short end of the IPO deal, would be an understatement.
Uber driver, Ahmed Jamous is frustrated. "I would love to get more money since they gonna go public and they gonna make a lot of money and they depend on us as the drivers. Without us, they not gonna make this money."
Uber does plan to pay three hundred million dollars in driver appreciation bonuses.
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More than a million drivers who've had a minimum of a thousand trips or more will get anywhere from a hundred to 10 thousand dollars.
Fation Aljhithi is also an Uber driver and said, "8700 trips and they only offer me like five hundred dollars for the whole time."
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The dissatisfaction doesn't stop there.
Drivers have long been asking to be employees instead of contractors - many have gone to arbitration because of it.
In the SEC report, Uber even recalls a huge customer backlash in 20-17.
Dara Kerr is senior reporter at CNET. "It mentioned the Delete Uber movement that happened a couple of years ago where it lost hundreds of thousands of passengers."
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Still - Uber is looking for a valuation of up to 120 billion dollars.
Which means the ones leading the company, top investors, and roughly one hundred 60 other shareholders will make a lot of money.
Realtors expect many will spend their money right here in San Francisco.
Pete Brannigan is with Compass Real Estate and expects, "The five million and over range will be fairly hot. There's been very little in inventory in that range."
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The others will likely go for condos in the two million dollar range.
The ones impacted when that happens - people wanting to buy in the same price range but who 'don't' have that much cash or collateral to put down.
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