Facebook Investors Cash Out - WSJ.com
Ottway Ducard stashed this in startups
Stashed in: Zuck!
Zuck may be an ant, but his ....
Gotham, take control, take control of your city. The instrument of your liberation is here.
Rules that restricted investors from selling their stakes immediately after Facebook's IPO expired only for those who sold stock in the offering. The select group includes venture-capital firms such as Accel Partners and Greylock Partners and Wall Street firms like Goldman Sachs Group Inc. GS -0.11% and Tiger Global Management.
Employees who own Facebook shares are only able to watch at this point. Lockup expirations in October, November and December will allow Mr. Zuckerberg and other employees to sell more than 1.4 billion shares. The biggest lockup expiration, freeing more than one billion shares, is set for Nov. 14. The last lockup expires next May.
Zuck knows this is an unfortunate consequence of shareholders that want liquidity.
He's in it for the long term. Anyone who's not in it for the long term like him is free to sell.
And to be fair, this is common practice in the venture industry. Generally the VCs cash out right away, partly because they want to resign from the board seats to which their investment entitles them.