Facebook co-founder Moskovitz sells more stock

Sep 10, 2012

(AP)—Facebook co-founder Dustin Moskovitz has sold 5.7 million shares of the company's stock, a small fraction of his total holdings.

He sold the shares on Wednesday, Thursday and Friday for proceeds of more than $108 million.

Moskovitz was 's Harvard roommate when they founded in 2004. Moskovitz, 28, left Facebook in 2008 and started Asana, a company that makes project management software.

He has been disclosing stock sales every few days since Aug. 17. He did not sell any stock in Facebook's IPO.

Moskovitz still owns about 126 million shares of Facebook stock. Facebook has been trading at about half of its $38 price. The stock closed at $18.98 on Friday.

Explore further: Alibaba surges in Wall Street debut (Update)

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Facebook co-founder sells 450,000 shares

Aug 22, 2012

(AP) — Facebook co-founder Dustin Moskovitz shed 450,000 shares of Facebook in the past few days for proceeds of about $9 million — a tiny chunk of his total stake.

Tale of the tape: Google versus Facebook

May 17, 2012

Facebook is the hottest Internet company to hit the stock market since Google went public in 2004. The Silicon Valley companies, located seven miles apart, also happen to be locked in a bitter battle for Web surfers' allegiance ...

Zynga holders plan to sell up to $400M in stock

Mar 14, 2012

Zynga shareholders may sell up to $400 million of stock through a public offering, three months after the online game maker went public, to try to avoid a drop in its stock price.

Facebook stock slide continues

Sep 05, 2012

Facebook stock hit a new low on Tuesday, with the world's leading social network having lost more than $50 billion dollars in market value since it became a publicly traded company in May.

Recommended for you

Alibaba makes Wall Street debut

Sep 19, 2014

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

Sep 19, 2014

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

Sep 19, 2014

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0