NEW YORK — It’s hard to get farther from the glamour of Silicon Valley tech startups than Camping World, but even decidedly unsexy companies are trying to borrow from Silicon Valley’s IPO playbook, Quartz reported today.
Like Google, Facebook, and other big tech companies, Camping World will have multiple classes of stock after its IPO, giving its chairman and CEO, Marcus Lemonis, through several ownership companies, control over more than 50 percent of the voting shares, the site noted.
But giving the CEO that much control makes less sense for a company founded 50 years ago. Camping World’s business model is well established, and while innovation in marketing is possible, it’s a stretch to argue that Lemonis’ singular vision is essential to the company’s future, according to Quartz.
To read the full analysis by investment site Quartz, click here.