May 4, 2019 - Technology
Threat of an Uber strike looms over IPO
Uber and Lyft drivers in NYC and some other big cities will strike by logging off from 7 to 9 a.m. on Wednesday, ahead of Uber going public, per CNN:
What they're saying: Drivers "want livable incomes, job security, and regulated fares."
Participating cities include Washington, Philly, Chicago, S.F., L.A. and San Diego, a taxi union told Reuters:
- "Uber ... expects to price its IPO on Thursday and begin trading on the New York Stock Exchange the following day."
- Uber CEO Dara Khosrowshahi won't invite predecessor Travis Kalanick to join him on the NYSE balcony during next Friday's bell-ringing ceremony, sources tell Axios' Dan Primack.
Kalanick co-founded Uber and led most of its growth before being forced out in 2017. He asked during a recent board meeting to join the bell-ringing.