Apr 26, 2017

Juno, the 'anti-Uber' startup, sells to Gett for $200 million

Courtesy of Gett

Before Juno even made it beyond New York City, the ride-hailing company has already sold to Gett, a competitor headquartered in Israel and with operations in Europe. The two will team up to tackle NYC, and eventually expand to more U.S. cities.

One notable piece of the $200 million acquisition is that Juno is rescinding the restricted stock unit program for drivers it rolled out last summer, and will send a one-time payment to participating drivers. The RSU program was the differentiator that immediately attracted the most attention when Juno first opened up shop last year, advertising itself as the "anti-Uber."

Broken promise? The combined company won't roll out any equity program to drivers in the future, instead focusing on rewarding loyal drivers in other ways, such as cash bonuses, a Juno spokesperson confirmed to Axios via email. The company added that it realized even before the sale that implementing the program turned out to be more difficult than anticipated.

Opposing views: Shortly after the deal was announced, the Independent Drivers Guild in NYC expressed disappointment in the company's move, calling it a "bait-and-switch." Juno, on the other hand, maintains that while the equity compensation was important, it wasn't its only differentiator. "Juno is about the unique culture we created, about the way we treat drivers and riders, about our 24/7 live support, about a fair lower commission," the spokesperson said via email, adding that these aspects will "only get better."

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New Zealand sets sights on coronavirus elimination after 2 weeks of lockdown

Prime Minister Jacinda Ardern gives a coronavirus media update at the New Zealand Parliament in Wellington. Photo: Mark Mitchell - Pool/Getty Images

AUCKLAND -- New Zealand has flattened the curve of novel coronavirus cases after two weeks of lockdown and the next phase is to "squash it," Professor Shaun Hendy, who heads a scientific body advising the government on COVID-19, told Axios.

Why it matters: The country imposed 14 days ago some of the toughest restrictions in the world in response to the pandemic, despite confirming only 102 cases and no deaths at the time.

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Illustration: Sarah Grillo/Axios

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  2. U.S.: Total confirmed cases as of 2:30 a.m. ET: 399,886 — Total deaths: 12,910 — Total recoveries: 22,461Map.
  3. Federal government latest: Acting Navy secretary resigns over handling of virus-infected ship — Trump removes watchdog overseeing rollout of $2 trillion coronavirus bill — Trump said he "didn't see" memos from his trade adviser Peter Navarro warning that the crisis could kill more than half a million Americans.
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  5. Business latest: America's food heroes in times of the coronavirus crisis. Even when the economy comes back to life, huge questions for airlines will remain.
  6. World updates: China reopens Wuhan after 10-week coronavirus lockdown.
  7. 2020 latest: Polls for Wisconsin's primary elections closed at 9 p.m. ET Tuesday, but results won't be released until April 13. Thousands of residents cast ballots in person.
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Tariff worries hit record high amid coronavirus outbreak

Data: CivicScience, margin of error ±1 percentage points; Chart: Axios Visuals

Concern about President Trump's tariffs on U.S imports grew to record high levels among Americans last month, particularly as more lost their jobs and concern about the novel coronavirus increased.

Driving the news: About seven in 10 people said they were at least somewhat concerned about tariffs in March, according to the latest survey from CivicScience provided first to Axios.