Photo illustration: Lindsey Bailey/Axios. Photo: Anadolu Agency/Getty Images
Reddit plans to reward its most loyal users during its upcoming IPO, Hope writes from a WSJ report.
Zoom in: 75,000 of the platform's "redditors" will be able to buy shares at Reddit's IPO price before the stock starts trading — an opportunity generally reserved for money managers.
Why it matters: It's an unusual move that could introduce volatility in the stock, but it could also help build more loyalty, WSJ notes.
The meme stock frenzy, after all, began on Reddit and proved the power of the platform to mobilize retail investors.
Reddit declined to comment on the report.
Zoom out: Reddit separately announced today that it's setting aside 1% of its common stock over 10 years to fund community-related programs through the Pledge 1% nonprofit.
What to watch: The company is reportedly set to go public next month.
