Employees who took the risk and joined Harvard dropout Mark Zuckerberg’s social network startup Facebook back when it wasn’t so big and helped turn it into something huge are finally cashing in.
According to reports, Digital Sky Technologies has begun buying $100 million worth of stock from current and former Facebook employees at a $6.5 billion valuation.
Facebook’s current executive team is not selling any of its stock.
Employees have 20 days to decide whether or not to take the offer.
Employes aren’t going to be able to sell all their stock, so it’s probably hyperbolic to say they’re “Google-rich.”
But even over Facebook’s ~600 or so vested-employees, $100 million goes a long way. For perspective, consider that when it IPO’d in 1996, Yahoo raised just $33 million.
Reached, a Facebook spokesperson confirmed the news.
An earlier Facebook plan to offer employees a way to sell their stock was scrapped last fall. But in a statement, CEO Mark Zuckerberg hints that employees are lucky that happened:
“While individuals must make their own decisions about participating in this program, I’m pleased that the price DST is offering is much greater than the price originally considered last fall. This is recognition of Facebook’s growth and progress towards making the world more open and connected.”
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