As Uber and Lyft threaten Minneapolis exit, driver-owned rideshare cooperative set to enter
MINNEAPOLIS — A rideshare co-op is launching services in Minneapolis in the coming weeks.
The Drivers Cooperative, founded in New York City in 2021, touts itself as the world's first driver-owned rideshare platform.
More than 12,000 drivers have joined since then, providing more than 300,000 trips in both the Big Apple and Denver.
The co-op's move into the Minneapolis market is in response to Uber's and Lyft's threats to end services on May 1 following a new ordinance passed by the City Council that would boost driver pay.
The Drivers Cooperative plans to partner with the Minnesota Uber/Lyft Drivers Association to launch a platform before the start of May.
According to the co-op's website, members make 8% to 10% more on each trip than on Uber and Lyft, and profits return to drivers as dividends.
The founders of The Drivers Cooperative, along with local drivers and riders, will hold a press conference in Minneapolis on Friday afternoon.
The City Council could reconsider the newly passed ordinance at its April 11 meeting, and Republicans and Democrats in the state legislature are considering rideshare bills.
