Great news! As you probably already know, promoting literacy has always been woven into the fabric of our business. Now we’re delighted to announce we’ve given an ownership stake to our non-profit literacy partners. Yup…we’ve granted Incentive Stock Options to these partners – as far as we know, a first for social enterprise.
The purpose of the plan, put together with the help of our primary investor, Good Capital, is to ensure that our literacy partners can have a stake in and share in our financial success.
We’ve put aside roughly 5% of the company for use in stock option grants to an initial group of five literacy partners (with potential to add others in the future): Books for Africa, Invisible Children, Room To Read, WorldFund and the National Center for Family Literacy.
One of our fearless leaders Xavier Helgesen puts it best: “We created Better World Books to show that it is possible to do good while at the same time run a successful company. Our literacy partners are essential to our mission, and we want them to flourish. Today’s announcement ensures that as our company grows, our partners will too.”