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Report says Zynga CEO wants some early employees to give back pre-IPO stock
NEW YORK (AP) ' A published report says Zynga CEO Mark Pincus wants some of the online game company's early employees to give back stock they own ahead of the company's initial public offering.
A report Thursday in The Wall Street Journal says that Pincus, who gave out stock freely to keep top talent early on, developed "giver's remorse."
That's because some of the early employees didn't contribute as much to the company as those hired later. But because they got in early, they got more shares.
Getting into a hot startup early on and reaping the rewards after a sale or IPO is a big part of Silicon Valley culture.
Zynga declined to comment because it is in a federally mandated quiet period ahead of its IPO, which is expected later this year.