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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."

Go deeper

Updated 53 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus cases rose 10% in the week before Thanksgiving.
  2. Politics: Supreme Court backs religious groups on New York coronavirus restrictions.
  3. World: Expert says COVID vaccine likely won't be available in Africa until Q2 of 2021 — Europeans extend lockdowns.
  4. Economy: The winners and losers of the COVID holiday season.
  5. Education: National standardized tests delayed until 2022.
3 hours ago - Health

Standardized testing becomes another pandemic victim

Photo: Edmund D. Fountain for The Washington Post via Getty

National standardized reading and math tests have been pushed from next year to 2022, the National Center for Education Statistics (NCES) announced Wednesday.

Why it matters: There’s mounting national evidence that students are suffering major setbacks this year, with a surge in the number of failing grades.

3 hours ago - World

European countries extend lockdowns

A medical worker takes a COVID-19 throat swab sample at the Berlin-Brandenburg Airport. Photo by Maja Hitij via Getty

Recent spikes in COVID-19 infections across Europe have led authorities to extend restrictions ahead of the holiday season.

Why it matters: "Relaxing too fast and too much is a risk for a third wave after Christmas," said European Commission President Ursula von der Leyen.