Virgin America gives Gold and Silver loyalty members preferred access to IPO
Virgin America sent an email to its Gold and Silver loyalty members this morning promising frequent fliers special access to their upcoming IPO.
We wanted to show appreciation to our Elevate Gold and Elevate Silver members that made it happen, and make you a part of the next exciting chapter of our company.
It is with this in mind that we are offering you access to shares in our IPO at the same price, and at the same time, as Wall Street.
The LOYAL3 Social IPO™ Platform allows individuals to purchase shares in our IPO at the same price, and at the same time, as institutions and other large investors. Participation is on a first-come, first-served basis.
Individuals can elect to purchase shares in our IPO through LOYAL3 in amounts ranging from $100-$10,000, with no transaction fees. Please don’t forward. This invitation is intended only for you and is not transferable. Your Elevate Gold or Elevate Silver Status will need to be effective as of October 29, 2014 to be able to participate. I'm a Virgin gold member and I fly on the airline a lot. But, given the airline's now-aging first class product, their limited routes and high fares, their recent vote to unionize (a positive step in theory, but likely to be a jarring transition at the previously "bosses and staff all in this together" airline) and, well, the fact that they're an airline, I'm not sure I'd be lining up to buy the stock even if I wasn't ethically barred from doing so (I don't buy stock in any company I might ever write about).
That said, this is certainly a nice idea -- and a meaningful perk for anyone who is bullish on Virgin and has $10k lying around.
Still, I'll make the joke before Sarah does: I wonder if Virgin's usual rule of banning parents from enjoying their loyalty perks applies here too?