I believe that services such as Skype and Twitter or marketplaces such as Etsy could do this successfully and in doing so align the interests of investors and the company much better than by simply selling to a bunch of institutional holders with no affinity for the company or its service.
Once the first company does this, I believe many will follow.
The question is who will have the courage to go first.
This model/idea solves many issues around alignment of stakeholders (mgmt, investors, customers, etc). A really interesting, simple thought that could go a long way to addressing the many institutional issues in business these days.



