Pinterest’s IPO structure could give CEO Ben Silbermann the right to control the company from beyond the grave

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

When Pinterest goes public, it will have a dual-class structure which gives select shareholders greater voting rights — including the founder's heirs after his death.

Pinterest CEO Ben Silbermann's shares could retain their high-vote status up to a year-and-a-half after his death.Pinterest's S-1, publicly filed on Friday, revealed a unique share structure.

That phrase is part of Pinterest's description of its planned dual-class stock structure, which gives 20 votes per share to select Class B shareholders — which will likely include the founding team and some of the company's earliest investors. When investors buy Pinterest's stock after the IPO, they will buy Class A shares, which have just one vote per share.

"It's typically driven by the founder's desire to have meaningful influence on the vote post-IPO," he said. , also has a dual-class structure — to the benefit of founding CEO Eric S. Yuan, who owns 22% of the company.Typically in companies with dual-class structures, founders and early investors own Class B stock, which can have anywhere from 10 to 100 times the number of votes-per-share as the Class A stock, the type issued to retail investors after the IPO.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 729. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Guess shares tumble on earnings shortfall as Levi Strauss IPO loomsShares of clothing company Guess tanked nearly 14 percent in the premarket Thursday after reporting earnings that missed analyst expectations. Do people still wear guess, so 80s hahah....
Källa: CNBC - 🏆 12. / 72 Läs mer »

Brexit fears; Levi's IPO; Nike earningsToday’s top business headlines with ChristineRomans: - Federal Reserve signals no rate hikes in 2019 - US-China trade talks resume next week - Ford to build electric cars in Michigan - Oil hits $60 per barrel for first time since November ChristineRomans ChristineRomans These are YESTERDAY'S business headlines. (I love when CNN pretends it's a business network) Ms. Romans.....is your teleprompter broken? I guess you need a degree in Astrophysics to do this job. ChristineRomans And Malik Obama ....says Michelle is a Michael ...THATS WHY JOAN WAS KILLED
Källa: CNN - 🏆 4. / 95 Läs mer »