Facebook director Thiel cashes out, sells 20 million shares - GoFuckYourself.com

Barefootsies · 08-21-2012, 04:48 AM

12clicks was right again...

Quote:

SAN FRANCISCO (Reuters) - Facebook Inc director Peter Thiel sold roughly $400 million worth of shares in the Internet social networking company last week, cashing out most of his stake, according to a regulatory filing.

Thiel sold his shares on Thursday and Friday at average prices ranging between $19.27 and $20.69 per share after the end of the first lockup, which barred early investors and insiders from selling shares following the initial public offering.

The sales, in which Thiel sold roughly 20 million Facebook shares, were conducted as a result of a trading plan that Thiel entered into on May 18, according to the filing.

Thiel, who co-founded PayPal and was among Facebook's earliest backers, still owns roughly 5.6 million shares of Facebook. A spokesman for Thiel declined to comment on the sales.

Accel Partners, a Silicon Valley venture capital firm that was also an early backer of Facebook, distributed roughly 57.8 million Facebook shares to the limited partners and general partners of its various funds on Thursday, according to another filing. The move allows those partners to sell or hold on to their distributed Facebook shares as they see fit.

Facebook, founded by Mark Zuckerberg in his Harvard University dorm room, became the only U.S. company to debut with a market value of more than $100 billion. But investors have grown disillusioned with Facebook's inability to articulate a plan to reverse slowing revenue growth.

Shares of Facebook finished Monday's regular trading session at $20.01, down nearly 50 percent from their $38 offering price in May.

More than 1.4 billion additional shares held by early investors and Facebook employees are set to become available for trading by year's end, as additional post-IPO lockup restrictions are lifted.

(Reporting By Alexei Oreskovic; Editing by Phil Berlowitz)
(This story was corrected fix the number of shares distributed by Accel to 57.8 million)

SOURCE

Harmon · 08-21-2012, 04:50 AM

Facebook is shit

DWB · 08-21-2012, 05:14 AM

400 million.... I would never be seen again.

Phoenix · 08-21-2012, 05:15 AM

so did he make his money back? how much did he put into facebook before?

seeandsee · 08-21-2012, 05:18 AM

500k to 400m in 8 yrs, what a hit!

rowan · 08-21-2012, 05:25 AM

Cashing out 80% of your shares as soon as you're legally permitted to sell? Sounds like he's getting out before the share price bombs, even though he knows his actions will probably lower it further. Things that make you go hmmmm.

candyflip · 08-21-2012, 05:39 AM

So it's already dropped by half, he only put in $500k to begin with and he sells the moment he's able to?

Sounds like someone has no faith in the company he works for at this point.

ilnjscb · 08-21-2012, 05:43 AM

He explained it as having other projects he needs to fund - he could leave it in FB and maybe quad it, or he could invest in another few startups and get much richer

u-Bob · 08-21-2012, 06:02 AM

Quote:

Originally Posted by DWB

400 million.... I would never be seen again.

He needed it for his seasteading project.

fris · 08-21-2012, 06:07 AM

i wouldnt be suprised if they ask mark to step down like they did with jobs

L-Pink · 08-21-2012, 06:18 AM

Quote:

Originally Posted by DWB

400 million.... I would never be seen again.

We would probably see you on CNN within a month

.

Chosen · 08-21-2012, 07:11 AM

I don't give a fuck about FB...

brassmonkey · 08-21-2012, 07:14 AM

Quote:

Originally Posted by L-Pink

We would probably see you on CNN within a month

.

mineistaken · 08-21-2012, 10:52 AM

Quote:

Originally Posted by candyflip

Sounds like someone has no faith in the company he works for at this point.

Not necessary no faith, maybe he merely understands that shares and company price were way overrated.

mineistaken · 08-21-2012, 10:54 AM

Quote:

Originally Posted by u-Bob

He needed it for his seasteading project.

Even if that would not be the case he would still have to justify the sellout. So he would say something like that in any case.

Furious_Male · 08-21-2012, 11:01 AM

It should come as no surprise. This was a planned sale from back in May. Pretty common for early investors to ring the cash register.

u-Bob · 08-21-2012, 11:11 AM

Quote:

Originally Posted by Furious_Male

It should come as no surprise. This was a planned sale from back in May. Pretty common for early investors to ring the cash register.

True and nothing wrong with that.

Twoface31 · 08-21-2012, 01:09 PM

ummmmmmmmmmm

SomeCreep · 08-21-2012, 01:26 PM

Get short fb and stay short until 15

Harmon · 08-21-2012, 01:31 PM

Quote:

Originally Posted by u-Bob

True and nothing wrong with that.

Pretty much this, and when the stock drop a buck or two (I could be wrong, but...) he will buy it all back up and then stir up the interest of investors again... driving the price back up.

That's a hell of a lot of shares not to make a dent in the market. Everything is ok (for now) boys. I am pretty sure it was a calculated decision.

stach14 · 08-21-2012, 01:31 PM

Not a good thing if you have money invested there...

08-21-2012, 04:50 AM	#2
Harmon ( ͡ʘ╭͜ʖ╮͡ʘ) Industry Role: Join Date: Mar 2004 Posts: 20,005	Facebook is shit __________________ [email protected]

08-21-2012, 05:15 AM	#4
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,457	so did he make his money back? how much did he put into facebook before? __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

08-21-2012, 05:18 AM	#5
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	500k to 400m in 8 yrs, what a hit! __________________ BUY MY SIG - 50$/Year Contact here

08-21-2012, 05:39 AM	#7
candyflip Carpe Visio Industry Role: Join Date: Jul 2002 Location: New York Posts: 43,057	So it's already dropped by half, he only put in $500k to begin with and he sells the moment he's able to? Sounds like someone has no faith in the company he works for at this point. __________________ Spend you some brain. Email Me

08-21-2012, 06:07 AM	#10
fris Too lazy to set a custom title Industry Role: Join Date: Aug 2002 Posts: 55,319	i wouldnt be suprised if they ask mark to step down like they did with jobs __________________ Since 1999: 69 Adult Industry awards for Best Hosting Company and professional excellence. WP Stuff

08-21-2012, 05:14 AM	#3
DWB Registered User Industry Role: Join Date: Jul 2003 Location: Encrypted. Access denied. Posts: 31,779	400 million.... I would never be seen again.

08-21-2012, 05:25 AM	#6
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	Cashing out 80% of your shares as soon as you're legally permitted to sell? Sounds like he's getting out before the share price bombs, even though he knows his actions will probably lower it further. Things that make you go hmmmm.

08-21-2012, 05:43 AM	#8
ilnjscb Confirmed User Industry Role: Join Date: Jun 2009 Posts: 8,818	He explained it as having other projects he needs to fund - he could leave it in FB and maybe quad it, or he could invest in another few startups and get much richer

08-21-2012, 07:11 AM	#12
Chosen VIPPay.com \| AdultWebSponsors.com Industry Role: Join Date: Aug 2001 Posts: 63,151	I don't give a fuck about FB...

08-21-2012, 11:01 AM	#16
Furious_Male Doing the grind since 99 Industry Role: Join Date: Oct 2003 Location: Buffalo NY Posts: 16,881	It should come as no surprise. This was a planned sale from back in May. Pretty common for early investors to ring the cash register. __________________ Living in Virtual Reality Contact: Email (preferred): furiousmale .at. gmail - Skype: live:shanedws

08-21-2012, 01:09 PM	#18
Twoface31 Confirmed User Join Date: Sep 2006 Posts: 2,746	ummmmmmmmmmm __________________ Email: [email protected] HentaiG4h * Lusty Life ICQ: 291-953

08-21-2012, 01:26 PM	#19
SomeCreep :glugglug Join Date: Mar 2003 Location: Where the Wild Things Are Posts: 26,118	Get short fb and stay short until 15 __________________ Webair Hosting I use and recommend Webair for hosting.

08-21-2012, 01:31 PM	#21
stach14 M3Server.com Industry Role: Join Date: May 2011 Location: Washington Posts: 667	Not a good thing if you have money invested there... __________________ M3Server - Celebrating 25 years of hosting Proud Sponsor of GFY.com Fully Managed Virtual & Dedicated Servers Chris Stach - [email protected] Skype: chris.stach14 https://www.m3server.com