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Facebook had two classes - A with 1 vote and B with 10 votes. In IPO they offered class A. Snap has A, B and C. They offered A which has zero voting rights. F
by thisisit 9y ago
Facebook had two classes - A with 1 vote and B with 10 votes. In IPO they offered class A.
Snap has A, B and C. They offered A which has zero voting rights.
Facebook tried to get another structure in place this year but dropped it.
So, not literally the same argument.
- nl 9y agoTrue, but the financial side is pretty much the same. Additionally, the preferred holdings in Facebook's case make the difference between the 1 vote class A and a hypothetical zero vote class somewhat moot (at the moment anyway).