In a move Larry Platt says is inspired by the Green Bay Packers, the Philadelphia Citizen will soon be selling shares in itself.
The site, run by former Philadelphia magazine and Daily News editor Larry Platt, quietly began posting articles in September. Now Platt tells Technical.ly Philly the site will begin selling shares. It won’t be traditional stock, as it won’t go up and down and it won’t pay dividends.
“We want the citizens of Philadelphia to own this civic entity,” Platt wrote in an email to Technical.ly. He didn’t say what, exactly, Citizen stock buyers would be getting in return. Green Bay Packers stockholders get a certificate to frame and put on the wall (or leave in a drawer, et cetera).