WeMakePrice.com Awards Stock Options To All Staff
D-Bo , July 21, 2015, 9:15 a.m.
Social commerce website WeMakePrice has awarded stock options to all of its full-time staff. Social commerce websites offer discounts on goods and services made by a group of online customers. CEO Park Eun-sang told staff at company headquarters on Monday that he wants both the company and its staff to enjoy the fruits of success.
The stock options are worth W5,000 a share and the total number of stocks varies according to the length of employment. Some received more than 10,000 shares (US$1=W1,156). Venture companies often offer stock options to scout experienced workers, but it is extremely rare for all staff to get them.
One industry source said, "If other venture companies follow suit, the measures could invigorate the industry." Company founder Huh Min and other executives own 100 percent of the company's stocks. Huh founded WeMakePrice in May 2010 and currently heads Wonder Holdings, which owns the website.