What would you do if you were offered $1,000 to buy Lyft stock? That’s a question senior RSG contributor Jay Cradeur was recently faced with. Here’s what Jay ended up doing with his $1,000 from Lyft – let us know if you received any money for the Lyft IPO and what you did with it in the comments.
About a month ago, I received notice that Lyft would be giving cash bonuses to its most loyal drivers. And since I had done over 10,000 rides with Lyft, I would be getting a $1,000 cash bonus that I could then invest in Lyft’s pre-IPO shares.
This was all a part of Lyft’s public relations campaign to demonstrate their commitment to the drivers. The intent of the bonus, besides the positive PR, was to foster investment in Lyft’s pre-IPO (Initial Public Offering) stock. I would have the option to use the $1,000 bonus to buy stock in Lyft. What to do?