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In reply to the discussion: Facebook's Zuckerberg, Thiel sell shares [View all]KurtNYC
(14,549 posts)31. Can you imagine how low the price would be now if he sold 20% of his shares?
He certainly wasn't betting on the price going UP.
Now that he is sued, Zuck can tell it to the judge:
http://news.cnet.com/8301-1023_3-57439918-93/facebook-zuckerberg-sued-over-ipo/
excerpt:
"The lawsuit, filed in the U.S. District Court in Manhattan this morning, charges the defendants with failing to disclose in the critical days leading up to Friday's initial public offering "a severe and pronounced reduction" in forecasts for Facebook's revenue growth, as users more and more access Facebook through mobile devices, according to Reuters, which cited a law firm for the plaintiffs. "
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and if you started a company that went IPO, you wouldn't sell some of your shares either? There is
still_one
May 2012
#5
It certainly isn't worth what people paid for it, but they did so willingly
4th law of robotics
May 2012
#37
I think that is pretty much what I said, it was wall street and the underwriters. However,
still_one
May 2012
#19
zuckerberg did not pump it. Morgan stanley and the underwriters did, along with the wall street in
still_one
May 2012
#7
He is doing what every CEO is told to do by the underwriters when you go public. He didn't set the
still_one
May 2012
#21
He sold to pay taxes. It doesn't matter what he thought the price was going to be.
former9thward
May 2012
#33
Sometimes it pays to be a procrastinator. I was going to buy FB shares but just didn't get
yellowcanine
May 2012
#14
Blaaah... I created (designed, programmed, ran, hosted) a social networking site
octothorpe
May 2012
#27
1.13 billion is barely a drop in the bucket in terms of what he owns in the company.
iandhr
May 2012
#18
Look up the criteria for getting in before the IPO - for each investment house...
polichick
May 2012
#55