Giving back to users!!! This is a first!!! Most investors are plain greedy and do not add real value to the start-ups/companies they invest in. Rather, their goal is to squeeze and extract as much value as possible from their investment vehicle. This is truly *impressive*. We are thinking about creating a cryptocurrency and making it exchangeable (backed) by those shares of reddit, and then distributing the currency to the community. The investors have explicitly agreed to this in their investment terms. Nothing like this has ever been done before. Basically we have to nail down how to do each step correctly (it is technically, legally, and financially complex), though in our brief consultation with an ex-SEC lawyer, he stated he could find nothing illegal about this plan. Nevertheless, there are something like 30 different things we have to pull off to make this work, so we’re going to try. cc Jean techcrunch/2014/09/30/reddit-scoops-up-50m-series-b-from-sam-altman-a16z-sequoia-at-500m-valuation/
Posted on: Wed, 01 Oct 2014 04:39:12 +0000
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