Facebook: Co-Founder Sells 450,000 Shares
When you’ve got enough shares of one of the most successful and richest companies in the world, why not sell them after a while? Looks like one person is following exactly that strategy. According to AP, Dustin Moskovitz, co-founder of Facebook, has just sold another whopping 450,000 company shares and made some $8.7 million. Not bad!
The internet and the world have been buzzing for a while now, as Moskovitz has been getting rid of 150,000 shares per day. Every three days he published his sales figures, making the online community and probably business men everywhere gasp yet again. AP reports that even with this latest sale, Moskovitz still owns more than 130 million Facebook shares. His last filing took place late on Wednesday and connected sales from Monday until that day. Prices per share ranged from $19 to $19.49.
Moskovitz was co-founder of Facebook in 2004 with CEO Mark Zuckerberg, but left in 2008 to start his own software company, Asana.
Facebook shares debuted in May at $38, but have slumped since then, sticking at $20 for the last two weeks. It will be interesting to observe the development of its global market share in the future.
More about Facebook’s earnings since becoming a public company:
You will find more statistics at Statista
Stephanie Kopf writes for the blog www.trenditionist.com
She has lived in Siberia, New York City and Germany. Her subject areas include anything related to the human psyche, European news, education, communication in all its forms, as well as the interaction of all of these with each other.
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The good news for facebook is that their active user numbers look really good. The problem, as always, is how to increase profits. They really need to find a way to get people to buy on facebook in the same way the use iTunes. There is a whole world of non-apple people out there….just waiting to be tapped.
Personally I’m not a big fan of facebook. To me it’s a monumental waste of time. Of course a lot people think its the greatest thing since sliced bread. Time will tell if it’s just another fad that peters out. I think the correct price for the stock is about $5-$10 so I’m not surprised by the selling and would expect more in the future.
very wise estimation of value, I think “Willwright”. One of the main issues is their sudden attempt to plunder the users with ‘pay for’ items, and recently, unprecedented interruptions of news feeds, with many many getting their updates to facebook pages, they say, days, and hours late. There’s also the shallow moat. A user cannot receive help nor explanation of privacy changes that users need to manage. They just suddenly appear in account management, opaque and without notice. There’s nothing trustworthy to rely on for users. Talk about a huge disatisfaction base.