Thousands of Uber and Lyft drivers turned off their apps in a US-wide strike Wednesday over pay and working conditions, casting a shadow over this week's keenly anticipated Wall Street debut of ride-hailing leader Uber.
Uber is expected to launch its initial public offering (IPO) on Friday giving it an estimated valuation of some USD 80 billion, one of the biggest tech listings in recent years but rather lower than its earlier hopes of around USD 100 billion.
The launch will be a major milestone for the company, which has raised billions and disrupted the taxi industry in cities around the world.
It will also come in the rear-view mirror of a troubled market debut for Uber's largest US rival Lyft, which has lost more than 15 percent of its value since its March IPO.
Strikes that took place Wednesday highlighted a dilemma for rideshare firms, which have faced challenges from regulators and traditional taxi operators for using a business model relying on independent contractors.
One group protested outside the New York Stock Exchange, where Uber is set to list shares, with some signs reading "Invest in our lives -- Not their stocks."
"In particular, as we aim to reduce driver incentives to improve our financial performance, we expect driver dissatisfaction will generally increase."
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