Reddit CEO Yishan Wong told the Reddit community this week he wants to give them 10% of the company’s shares. Such a move has never been carried out by a company that depends on user engagement, like Facebook or Twitter.
Wong cautioned that the plan is still in its early stages and added a caveat to his post on Reddit: “KEEP IN MIND THAT THIS PLAN COULD TOTALLY FAIL.”
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Wong also said that the idea of “distributing ownership of [Reddit] back to the community” has been a long-held dream by Wong and many of the company’s other employees.
