Photo: Cattias Photography
Mark Zuckerberg owns about $14 billion in Facebook shares—almost entirely in Class B shares, which give him voting control of the company but can’t be sold like Class A shares.And indeed, he’s said he doesn’t plan to sell any of his stake for some time.
So it caught our eye when Zuckerberg reported owning any class A shares—a grand total of 68.
Zuckerberg received the shares, worth about $1,870, in two chunks from a fund controlled by Benchmark Capital.
That fund, Benchmark Founders’ Fund VI, appears to be a sidecar fund, in which Benchmark lets entrepreneurs friendly to the firm invest alongside the institutional investors who are partners in its regular funds.
Former Facebook executive Matt Cohler is a Benchmark partner, and Benchmark acquired a stake in Facebook when the social network bought a Twitter-like update-sharing service called FriendFeed, backed by Benchmark, in 2009, for about $50 million at the time. At the peak of Facebook’s valuation, that deal ended up being worth $330 million for Benchmark and the company’s employees.
FriendFeed CEO Bret Taylor ended up working as Facebook’s CTO for a couple of years, but he left in June.