Reddit has announced a $50 million round of fundraising, as expected. But there's an interesting quirk in the news for average Redditors.
Yishan Wong, CEO of Reddit, announced in a blog post that Reddit community members could soon have the opportunity to buy some shares in the company
The fundraising round was led by Sam Altman, president of startup incubator Y Combinator, which helped start Reddit
"Led by Sam [Altman] , the investors in this round have proposed to give 10% of their shares back to the community, in recognition of the central role the community plays in reddit's ongoing success," Wong wrote. "We're going to need to figure out a bunch of details to make it work, but we're hopeful. We'll have more specifics to share about it soon, but in the meantime we wanted to mention it here." Read more...
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