Groupon and Zynga Push the Limits With Supervoting Shares
Attempt to keep greater post-IPO control
Groupon and Zynga have already raised eyebrows with the accounting metrics used in filings for their upcoming IPOs, and now they’re getting even more investor attention with their latest plans to give founders extra supervoting shares, says The Wall Street Journal.
According to regulatory filings, when Groupon goes public—which it’s expected to do as soon as next week—its three co-founders will have shares that carry 150 votes each. At Zynga, which will likely go public later in November, founder Mark Pincus’ supervoting shares will carry 70 votes each.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in