Uber will be enlisted this Friday on 10th May 2019, with an initial public offer (IPO) of $90 billion on wall street. However, the company is facing obstacles as drivers in various areas have decried massive incentive cuts.
In Inida, Uber drivers monthly earnings were estimated at $1,280 then the profits went down to $540 per month, which was tough for drivers who had acquired taxi loans. Former Uber India executives say incentives were sharply cut in early 2017 because of growing pressure from the U.S. head office to improve financial performance ahead of an initial public offering (IPO), which values it at as much as $90 billion.
In January 2017, Uber agreed to pay $20 million to the US government to resolve accusations by the Federal Trade Commission of having misled US drivers about potential earnings.
With all the criticism following the transport giant, Wall Street prepares to make Uber a public company, this coming Friday.