Visiting Dignitaries

Zappos CEO Tony Hsieh Bought Out One of Meetup’s Shareholders

"I think he wants a cut of the profit as we keep growing over the long-haul."
screen shot 2012 05 14 at 8 56 58 am Zappos CEO Tony Hsieh Bought Out One of Meetups Shareholders

Mr. Hsieh/Mr. Wiggles

Earlier this month, Meetup CEO Scott Heiferman announced the newest member of the Meetup cap table: Zappos front man Tony Hsieh. “indeed, tony (zappos ceo) bought out one of our shareholders,” Mr. Heiferman wrote in a company-wide email.

“i’m thrilled–because tony is a true hero of great companies, cultures, customer experience, community and it can’t hurt to have another hsieh around,” he added, referring presumably to Richard Hsieh, Meetup’s lead software engineer here in New York.

Mr. Heiferman didn’t specify which shareholder was bought out. Previous investors include Draper Fisher Jurvetson, Omidyar Network, eBay, and Union Square Ventures. In February, cofounder Matt Meeker left to launch BarkBox, a Birchbox for dogs. Mr. Heiferman said that Mr. Hsieh’s motivation was two-fold:

tony bought a piece of meetup because he believes in our potential –both meme & money: he wants us to revolutionize community for people– and i think he wants a cut of the profit as we keep growing over the long-haul (or whatever way that all of our stock/options pay out)

Based on the growth in new members, things are definitely looking up-and-to-the-right, as they say.

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As for Mr. Hsieh, this isn’t his first run-in with the company.  Back in 2009, he introduced staffers to a scooter-racing alter-ego known as Mr. Wiggles (at about 1.50):

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