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ExtraTorrent.cc > Articles > Facebook Co-Founder Gets Rid of his Shares

Facebook Co-Founder Gets Rid of his Shares

Facebook Co-Founder Gets Rid of his Shares

Added: Thursday, September 6th, 2012
Category: Recent Headlines Involving File Sharing > Current Events
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2010, www.extrattorrent.com
People who bought Facebook’s shares and are now disappointed with their fall have another reason to worry. Dustin Moskovitz, one of Facebook co-founders, was noticed to dump more of his shares in an attempt to get rid of them before they settle. Facebook, the largest social network in the world, has seen its share price fall and at the moment most of analysts believe that the shares will probably stop somewhere at $13 a piece.

Dustin Moskovitz used to be a roommate of Facebook chief Mark Zuckerberg’s at Harvard University. However, three years ago Moskovitz left Facebook in order to work on his own start-up, workplace software-service called Asana.

Although Moskovitz has already sold a lot of his shares, the analysts report that he is still keeping up a tiny but steady flow of daily sales. For instance, only this week Moskovitz has sold around 450,000 Class A shares per $19.19-$19.22 each. In the meantime, the Dustin A. Moskovitz Trust had only 6.15 million A shares, or at least that’s what a filing with the Securities and Exchange Commission says.

Thus far, Moskovitz seems to be keeping his more than 100 million B shares that can be converted to Class A shares on a 1-to-1 basis at any time. However, Class B shares carry more voting power. This, in its turn, keeps Moskovitz involved in the company.

According to financial experts, Moskovitz has been selling around 150,000 shares a day since 19 August. As for other company’s insiders, including early backer Peter Thiel, they were noticed offloading shares before they lose their value. For instance, Thiel, who sits on the company’s board, sold 20,000,000 shares earlier in August.

September 6th,2012

Posted by: 

Date:  Thursday, September 6th, 2012

Comments (15) (please add your comment »)

posted by ET loverSuperman (2012-09-06 19:06:41)
tonymengela avatarI like their plan, sell shares to a trust which you are trustee to drive the price even lower while purchasing more under various trusts, then do something fantastic as these guys are NO dummies as people want to believe, then the shares will go up and when they reach profit margins on each level, they sell accordingly by doing this they are double selling shares for even more than they started out at.

posted by (2012-09-06 22:42:40)
No avatarFacebook is the CB radio of our time. Even the founders know this, that was why they needed to go public before it blew over. If you were dumb enough to invest in it you will get what you deserve!

posted by ET loverSuperman (2012-09-07 01:19:57)
tonymengela avatar@ lol66 Your very wrong on that FB knows exactly what they are doing, the shares were never meant to go up right away. Try and understand my first comment, this is all designed your gonna see something new from them just about the time the shares get down to the 13-10 dollar range and then they are going to jump, I see a partnership or a merging of some type with a new chat client with possible internet calling technology. Maybe even a Microsoft by out. These things are always designed.

posted by ET lover (2012-09-07 02:49:12)
sv8pro avatar@ tony no the company was over valued....simple as that!

posted by (2012-09-07 02:57:32)
No avatar6.15 million shares at $19.20 per share equals about $118 million. how will he ever survive on that.

posted by (2012-09-07 09:23:06)
giraffe avatarThanx Sam for the article.

@tonymengela You are very wrong! FB is losing staff, investors and advertisers but you think they know what they are doing. Both lol66 and sv8pro are right and one day FB will die just like myspace- I will gladly piss on its grave.

@jerseyboy086 Have you looked at the price of super yachts lately? He's going to need every penny.

posted by Blocked (2012-09-07 13:50:35)
No avatarany with even half a brain cell left + holds shares would sell them

posted by (2012-09-07 15:33:32)
No avatarface book is going to end up like my space yes i said my space it use to be as big as face book

posted by ET junkie (2012-09-07 17:28:27)
skulljockey avatarI signed up for facebook because believe it or not "peer pressure" Crap I'm a grown man and I succumb to a bunch of friends. Anyway not wanting it in the first place it lay dormant on my PC for about 8 months. It was pointed out to me I could possibly find a person who is very dear to me. No luck in that endevor but it was a start of a mightmare. First someone hacked my e-mail that I've been using for about 7 years so it was shut down. I then started getting a emails on my comp and smartphone everytime someone posted some lame inspirational poem or a invitation to play bust the bubbles or someother crap. I felt like I got attacked by one of those horror movie monsters that attaches itself to your brain then sends tentacles throughout ur body. I finally shut my page down. I'm sure I pushed a wrong button or something I'm no tech wiz and my expertise ended when they quit making home stereo's Briansharb I hope ur right but FB is everywhere. A lot of my apps prefer you sign in through FB then you shut off social. So Zuck and the rest of you shareholders enjoy your billions cause I think you spread a social disease instead of a social network FB hater

posted by (2012-09-08 02:44:45)
No avatarTony, I agree with all you said. My point is that facebook is a fad, the flavor of the month. It's a matter of fashion, like the CB radio, the hula hoop and my personal favorite the pet rock!! (that guy's my hero!) Facebook was cool, till kids parents started to use it, soon the kids will lose interest and move on to the next big thing. Remember myspace??

posted by (2012-09-08 05:04:28)
riverratbryan avatarlol66-good catch on the cb,he didn't miss type.everything has a expiration date- printed or not

posted by Blocked (2012-09-08 20:14:55)
azharuddind avatar4 years ago facebook was good but these days its completely Spam

posted by (2012-09-09 22:04:59)
cggc avatarcompanies save facebook like yahoo? according back time like microsoft shares while tried buy yahoo.

posted by (2012-09-10 18:50:25)
No avatarRemember the names of all these fly by night shareholders and if their names pop up in new or maybe older companies , avoid them like the plague.

posted by (2012-09-13 04:00:08)
No avatarAnother bad article. "Facebook Co-Founder Gets Rid of his Shares" and "Thus far, Moskovitz seems to be keeping his more than 100 million B shares that can be converted to Class A shares on a 1-to-1 basis at any time. " These are contradictory statements. Stop making false headlines when not needed. Change "Gets Rid" to "Getting Rid" would be more accurate. He is evening selling them at a very small percentage at a time, not a huge portion at once. Pathetic reporting.

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