This Rug Merchant Missed Out On $50 Million In Facebook Stock

Pejman Nozad, Amidzad PartnersPejman Nozad is doing just fine, thank you.

Photo: Amidzad Partners

Pejman Nozad could have made $50 million today.In 2005, he had a chance to invest roughly $50,000 in Facebook, he told the Wall Street Journal. Facebook’s then-president, Sean Parker, was keen on nabbing space in 165 University Avenue, a building Nozad and his partners, the Amidi family, owned.

Park sought out Nozad, who’s known as a matchmaker in Silicon Valley—a role he developed as he sold carpets in a well-placed business, the Amidis’ Medallion Rug Gallery in Palo Alto.

Google and PayPal had previously occupied 165 University Avenue, which is now thought to be a lucky one for startups. (PayPal cofounder Peter Thiel was an early investor in Facebook.)

Facebook not only wanted the lucky space, but hoped the the lucky angel investor would take a stake.

The leasing department turned Facebook down, and Nozad said he didn’t fight the decision. Facebook found other office space along University Avenue.

Don’t feel bad for Nozad, though.

He and the Amidis now run Amidzad Partners, which sold startups like Danger Research and Powerset to Microsoft and shopping search engine Milo to eBay. Dropbox is a current investment.

UPDATE: Here’s the conversation we had with Nozad on Twitter about this story:

That’s a relief!

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