Uber is offering $100 hourly payments to its drivers for their time on the job, according to a memo from the company’s board.
“The Uber Drivers compensation package is designed to reward our members for the hard work they put in to provide Uber with their best service,” the memo said.
The company also announced it is launching a new taxi navigation app.
The new app, dubbed “Fare,” lets users hail a ride from a smartphone or computer.
“We are pleased to partner with the ride-hailing platform Uber to bring new and innovative taxi navigation tools to the taxi app world,” said Uber CEO Travis Kalanick in a statement.
Kalanicky said the app will be available in the U.S. in the coming weeks.
In its announcement, Uber said it would pay drivers up to $2,000 per month to stay on the app and for Uber to keep their jobs.
“While Uber may not be a traditional taxi service, we believe that our drivers are the most qualified and best-equipped to provide our customers with the best possible experience while on the road,” the company said.
Uber has been battling the growing popularity of ride-sharing services like UberPool and Lyft, which allow passengers to pick up and drop off passengers without any upfront costs.
UberPool is offering a $20 fee to use its service.
Lyft, meanwhile, has started charging for Lyft trips.
Uber did not immediately respond to a request for comment.
In addition to the ride fees, Uber also said it will offer “takes home” discounts for its drivers, which will include discounts on the price of Uber meals, gas, and insurance, among other perks.
Uber said its drivers will be paid an hourly rate of $0.25 per mile driven.
Uber Pool, on the other hand, has not announced its drivers.
Kalani, who joined Uber in 2014, said the company plans to expand its offerings, including the new app.
“Our team is working hard to bring this new app to market as soon as possible,” he said in a release.
“It will be a huge boon to our employees and the community.”
Uber’s board has approved the $100-per-hour payouts.
Uber’s Board of Directors also approved a $50-million equity investment from Google Ventures and another $50 million in venture capital, the company announced in a press release.
Uber CEO and co-founder Travis Kalani was named co-CEO in October.
The Uber CEO has previously described Uber as a company that is “about the people.”
“The value proposition for our drivers is the same as for our owners and partners,” Kalanicks company said in the company release.