The Morning Ledger: Tech Founders Want IPO Riches, Without Pesky Shareholders
Technology companies are seeking windfalls from their IPOs, minus the shareholders. Snap Inc. was the first major company since at least 2000 to do an initial public offering in the U.S. that gave new shareholders no voting rights, Maureen Farrell reports. The company’s earlier investors got one vote for every 10 held by the two co-founders.
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