9 Facebook Execs Unloading Stock

Discussion in 'Wall St. News' started by sophiekay, Aug 10, 2008.

  1. Isn't this odd? Why would anyone sell shares in what could be the hottest IPO in years for a 70% discount?


    Facebook CEO Mark Zuckerberg Plans To Unload Some Of His Stock

    Amit Chowdhry | Wednesday August 6, 2008

    This Fall, Facebook employees will be able to unload some of their shares in order to capitalize on some of the work that they have put in the top social network. This is important to employees as Facebook claims that they have no plans on selling themselves or going public anytime soon.

    However, most of the shares being sold are nowhere close to the $15 billion valuation that Microsoft predicted the social network was worth when investing $240 million for 1.7% equity. Laurence Albukerk, a Managing Director at EB Exchange Funds stated that he knows at least 9 executives at Facebook unloading stock. Coincidentally, EB Exchange Funds’ homepage states “EB Exchange Funds creates partnerships that enable entrepreneurs who are Accredited Investors to pool their pre-IPO stock.”

    Maybe there is a Facebook IPO happening soon?

    BusinessWeek confirms that Mark Zuckerberg and former VP, Matt Cohler are involved with selling some of Facebook’s shares. Albukerk stated that a couple of Facebook Directors and a former executive contacted him recently to sell stock with a $5 billion valuation.

    VentureBeat’s Eric Eldon reported that Facebook employees would be limited to selling 20% of their shares at a $4 billion valuation.
  2. maybe he;s broke and wal mart won't accept stock for payment