Uber competitor says its drivers will own the company

Juno is a stealth new startup that’s gearing up to take on Uber with a laser focus on keeping drivers happy. Juno will give its drivers equity in the company. On top of that, Juno will take a smaller cut off every ride: Just 10% compared to Uber’s 20% to 25%. It’s not trying to undercut Uber — it plans to set its prices in the same ballpark as the competition. “At the end of the day, people want to ride with a happy driver — and Juno drivers are happier,” Juno cofounder Talmon Marco told CNNMoney. Its drivers, who are contract workers, will be the creme of the crop: Juno will require that drivers have a minimum 4.70 rating from Uber and other services, said Marco. Right now, they’re only accepting drivers who work at other ridehailing firms; they won’t have to work exclusively for Juno. Juno is slated to launch in its first market, New York City, this spring. It already has “thousands” of drivers signed up to work with the company.