The world's largest technology IPO is providing not just fees for bankers but fodder for comics. "It's great — now you can lose all your money in the same place you lost all your time," quipped late night comic Jimmy Fallon on the NBC network this week. With Facebook's share price expected by many to crash back down to earth within weeks or even days, the only people guaranteed not to rue their investment are those who bought in while the company was privately held.
We list Facebook's early backers are a potent mix of Silicon Valley insiders, Russian oligarchs, Wall Street financiers – and a pop star called Bono.
Investors
- Accel Partners - Based in Palo Alto, California, this global venture and growth equity firm funds companies from inception through the growth stage.
Led by managing partner Jim Breyer, Accel Partners made a $12.7 million investment in early 2005 that gave the firm a 15% stake, and also included million dollar bonuses for Zuckerberg, Parker and Moskovitz (unusual in a VC round). Accel's stake (less Breyer's personal one) represented 190 million classB shares.- No of Shares held pre-IPO: 201.378 million
- Value of Shares held pre-IPO @ $38.00: $7.652 billion
- No of Shares sold during IPO: 49.031 million
- Cash from IPO: $ 1.863 billion
- No of Shares held post-IPO: 152.347 million
- Value of Shares held post-IPO @ 38.23: $5.824 billion
- DST Global Limited - Yuri Milner's DST Global has been the main conduit for Russian investments. His own backers include steel tycoon Alisher Usmanov.
DST made two separate Facebook investments: $200 million in May 2009 for a 1.96% stake and $50 million in January 2011 for a 0.10% stake.- No of Shares held pre-IPO: 131.280 million
- Value of Shares held pre-IPO @ $38.00: $4.989 billion
- No of Shares sold during IPO: 45.662 million
- Cash from IPO: $1.735 billion
- No of Shares held post-IPO: 85.617 million
- Value of Shares held post-IPO @ $38.23: $3.273 billion
- Goldman Sachs - In Janury 2011, Goldman Sachs CEO Lloyd Blankfein finalized an investment of $450 million, $50 million from DST (see above), and $1 billion from unnamed foreign investors. The deal valued Facebook at $50 billion.
The financing created controversy as it appeared to be a way for Facebook to sidestep U.S. securities laws forcing privately-held companies to make SEC filings once they reach a 500 shareholder threshold.- No of Shares held pre-IPO: 65.947 million
- Value of Shares held pre-IPO @ $38.00: $2.506 billion
- No of Shares sold during IPO: 28.673 million
- Cash from IPO: $1.090 billion
- No of Shares held post-IPO: 37.274 million
- Value of Shares held post-IPO @$38.23: $1.425 billion
- Elevation Partners - U2 rocker Bono, is a lead investor in Elevation and has been keen to stress any IPO winnings will be widely distributed. In April 2010, Elevation Partners announced a $90 million investment in Facebook for a 1% stake.
This was the first of three investments in Facebook. By 2011, the firm invested a total of $270 million into the social media giant, and, was sitting pretty in anticipation of the company's public offering.- No of Shares held pre-IPO: 40.110 million
- Value of Shares held pre-IPO @ $38.00: $1.524 billion
- No of Shares sold during IPO: 4.622 million
- Cash from IPO: $176.699 million
- No of Shares held post-IPO: 35.487 million
- Value of Shares held post-IPO @ $38.23: $1.357 billion
- Mail.ru Group - In 2009, Mail.ru (now DST) a leading Russian internet company used as a second investment vehicle by Yuri Milner and his Russian oligarch contacts, made an undisclosed investment in Facebook.
- No of Shares held pre-IPO: 56.352 million
- Value of Shares held pre-IPO @ $38.00: $2.141 billion
- No of Shares sold during IPO: 19.601 million
- Cash from IPO: $744.838 million
- No of Shares held post-IPO: 36.751 million
- Value of Shares held post-IPO @ $38.23: $1.405 billion
- Mark Pincus - Mark Pincus is the co-founder of online games group Zynga, whose Farmville and Mafia Wars games are played mostly on Facebook.
In late 2004, Mark Pincus and Reid Hoffman both made $40,000 investments each alongside Peter Thiel's $500,000 loan (later converted to equity) to become Facebook's first angel investors.- No of Shares held pre-IPO: 5.314 million
- Value of Shares held pre-IPO @ $38.00: $201.932 million
- No of Shares sold during IPO: 1.009 million
- Cash from IPO: $38.342 million
No of Shares held post-IPO: 4.304 million - Value of Shares held post-IPO @ 38.23: $164.542 million
- Tiger Global Management - Sensing a killing, the New York hedge fund run by 36 year old Chase Coleman increased the number of shares it was planning to sell from 3m to 23m on Wednesday.
- No of Shares held pre-IPO: 53.837 million
- Value of Shares held pre-IPO @ $38.00: $2.046 billion
- No of Shares sold during IPO: 23.408 million
- Cash from IPO: $889.504 million
- No of Shares held post-IPO: 30.430 million
- Value of Shares held post-IPO @ 38.23: $1.163 billion
- Li Ka-Shing - Hong Kong ports, telecoms and property tycoon invested $120 million in two separate investments of $60 million in November 2007 and March 2008.
Li Ka-Shing's first investment helped push Facebook's valuation up to $15 billion.- No of Shares held pre-IPO: Unknown (After his second investment in Facebook in March 2008 paidContent.org reported that Li Ka-Shing's stake was 0.08%)
- Value of Shares held pre-IPO @ $38.00: Unknown
- No of Shares sold during IPO: Unknown
- Cash from IPO: Unknown
- No of Shares held post-IPO: 20.403 million
- Value of Shares held post-IPO @$38.23: $780.000 million
- Valiant Capital Opportunities - Since July 10, 2010, Valiant Capital Management, a San Francisco-based sidestep hedge fund account organisation launched by Christopher R. Hansen, has been quietly acquiring blocks of Facebook shares for its investors through the secondary markets. He reportedly paid an estimated $500 million for those shares.
- No of Shares held pre-IPO: 36.335 million
- Value of Shares held pre-IPO @ $38.00: $1.381 billion
- No of Shares sold during IPO: None
- Cash from IPO: None
- No of Shares held post-IPO: 36.335 million
- Value of Shares held post-IPO @$38.23: $1.389 million
- Meritech Capital Partners - Gained its Facebook shares by participating in the company's $27.5 million Series C round. Joining Meritech in the transaction were Greylock, Accel and Angel investor Peter Thiel, with the round valuing Facebook at over $500 million. Meritech Capital Partners was founded in 1999 in partnership with Accel Partners, Oak Investment Partners, Redpoint Ventures and Worldview Technology Partners, and currently manages more than $2.2 billion in capital.
- No of Shares held pre-IPO: 40.355 million
- Value of Shares held pre-IPO @ $38.00: $1.533 billion
- No of Shares sold during IPO: 6.999 million
- Cash from IPO: $266 million
- No of Shares held post-IPO: 25.798 million
- Value of Shares held post-IPO @$38.23: $986.257 million
- Greylock Partners - Greylock, its roots going back to 1965, got its piece of the world's hottest tech company by getting in on Facebook's $27.5 million Series C round. Meritech Capital Partners also participated in the financing along with existing investors Peter Thiel and Accel, who chipped in additional funds. With this financing Facebook was valued at over $500 million, five times the amount when Accel first invested.
- No of Shares held pre-IPO: 36.656 million
- Value of Shares held pre-IPO @ $38.00: $1.393 billion
- No of Shares sold during IPO: 7.607 million
- Cash from IPO: $289.066 million
- No of Shares held post-IPO: 29.049 million
- Value of Shares held post-IPO @$38.23: $1.110 billion
- Peter A. Thiel - In late 2004, Thiel became Facebook's first significant outside investor when he put up $500,000. "Just don't fuck it up," is what Peter Thiel told Mark Zuckerberg when the two finalized Thiel's investment in the cash-strapped startup, according to Facebook chronicler David Kirkpatrick. Initially structured as a loan, the financing later converted to a 10.2% equity stake in the company. Thiel maintains a seat on Facebook's board of directors and, in addition, serves as president of Clarium Capital, a hedge fund, and is a Managing Partner of VC firm, The Founders Fund.
Thiel is known for being a package of contradictions due to the fact that he is a gay, Christian, entrepreneur, venture capitalist, libertarian, lawyer who, in 2010, launched the Thiel Fellowship, offering $100,000 in cash to aspiring entrepreneurs under the age of 20 to drop out of school and pursue their business endeavors. Due to selloffs and dilutions, Thiel's original stake in Facebook has been reduced to 3%.- No of Shares held pre-IPO: 44.724 million
- Value of Shares held pre-IPO @ $38.00: $1.699 billion
- No of Shares sold during IPO: 16.844 million
- Cash from IPO: $640.072 million
- No of Shares held post-IPO: 27.880 million
- Value of Shares held post-IPO @$38.23: $1.066 billion
- Microsoft Corp - In October 2007, Microsoft CEO Steve Ballmer negotiated a deal to acquire a 1.6% stake in Facebook for $240 million at a nosebleed $15 billion valuation, and seal the Seattle software goliath's foray into Web 2.0.
Though interested in acquiring Facebook outright, an idea Zuckerberg nixed, Microsoft opted for a complicated arrangement that included an advertising partnership and a small stake in the social network.- No of Shares held pre-IPO: 32.785 million
- Value of Shares held pre-IPO @ $38.00: $1.246 billion
- No of Shares sold during IPO: 6.557 million
- Cash from IPO: $24.917 million
- No of Shares held post-IPO: 26.228 million
- Value of Shares held post-IPO @$38.23: $1.003 billion
- T. Rowe Price - T. Rowe Price, the mutual fund company with nearly $500 billion in assets under management, invested a total of $190.5 million in Facebook in April of 2011. Shares were acquired from Faceboo employees and private investors. The very expensive Facebook shares were then distributed across nearly 20 separate mutual funds, including the Science & Technology Fund, New America Growth Fund, and Media & Telecommunications Fund.
- No of Shares held pre-IPO: 18.200 million
- Value of Shares held pre-IPO @ $38.00: $6.916 million
- No of Shares sold during IPO: None
- Cash from IPO: None
- No of Shares held post-IPO: 18.200 million
- Value of Shares held post-IPO @$38.23: $695.786 million
- Marc Andreessen - Marc Andreessen is an American entrepreneur, co-founder of Netscape and the software engineer behind Mosaic the first widely-used web browser, co-founder of Andreessen Horowitz (see below), a high-flying venture capital firm.
Andreessen is currently one of the web 2.0's most sought after prognosticators and VC investors, and serves on the Facebook board.- No of Shares held pre-IPO: 6.607 million
- Value of Shares held pre-IPO @ $38.00: $251.066 million
- No of Shares sold during IPO: None
- Cash from IPO: None
- No of Shares held post-IPO: 6.607 million
- Value of Shares held post-IPO @$38.23: $252.586 million
- Andreessen Horowitz - Andreessen Horowitz is a venture capital firm founded by Marc Andreessen and Ben Horowitz. Andressen (Netscape co-founder) who sits on the board of Facebook and Horowitz (high technology entrepreneur), launched the firm in June of 2009 with a $300 million dollar fund. Apparently their limited partners have enjoyed the results, as the duo recently closed a $1.5 billion fund. In February 2011, Andreessen Horowitz invested $80 million in Twitter, making the outfit the first venture firm that holds stock in all four of the most coveted social-media companies: Facebook, Groupon, Twitter and Zynga. The fund holds approximately 3.5 million shares of Facebook stock putting its stake at around $150 million
- No of Shares held pre-IPO: 3.500 million
- Value of Shares held pre-IPO @ $38.00: $133.000 million
- No of Shares sold during IPO: None
- Cash from IPO: None
- No of Shares held post-IPO: 3.500 million
- Value of Shares held post-IPO @$38.23: $133.805 million
- Fidelity Investments - Fidelity Investments is a Boston-based financial services corporation with a sizable stake in the social network. Similar to T. Rowe Price, Fidelity is another large mutual fund company with holdings in Facebook. According to the Boston Business Journal, there are five Fidelity Investments funds holding shares in Facebook, which in aggregate, represent an investment of $151 million. One of the largest mutual fund and brokerage groups in the world, Fidelity acquired its Facebook shares from former Facebook employees or private shareholders in March of 2011, at a price of $25 a share.
- No of Shares held pre-IPO: 3.500 million
- Value of Shares held pre-IPO @ $38.00: $133.000 million
- No of Shares sold during IPO: Unknown
- Cash from IPO: Unknown
- No of Shares held post-IPO: Unknown
- Value of Shares held post-IPO @$38.23: Unknown
- Reid Hoffman - Reid Hoffman is considered a member of the "PayPal Mafia," the founders or early employees of PayPal. The PayPal posse later founded a series of other technology companies such as YouTube, and Friendster.
Hoffman has been credited with arranging the first meeting between Facebook CEO Mark Zuckerberg and investor Peter Thiel. Additionally, Hoffman invested $40,000 alongside Thiel in the social network's first financing round. Prior to the funding of Facebook, Hoffman was the Executive Vice President of PayPal and co-founder of LinkedIn, where he maintains a position as Executive Chairman. In May 2011, LinkedIn had very successful, albeit controversial IPO of its own. In 2010, Hoffman joined the Greylock Partners.- No of Shares held pre-IPO: 4.714 million
- Value of Shares held pre-IPO @ $38.00: $179.132 million
- No of Shares sold during IPO: 943 thousand
- Cash from IPO: $35.834 million
- No of Shares held post-IPO: 3.771 million
- Value of Shares held post-IPO @$38.23: $144.165 million
- General Atlantic - In March 2011, New York-based venture capital firm General Atlantic made a deal to purchase approximately 2.5 million shares of Facebook stock from former Facebook employees, giving Facebook a valuation of $65 billion.
- No of Shares held pre-IPO: 2.500 million
- Value of Shares held pre-IPO @ $38.00: $95 million
- No of Shares sold during IPO: 2.500 million
- Cash from IPO: $95 million
- No of Shares held post-IPO: None
- Value of Shares held post-IPO @$38.23: None
- Kleiner Perkins Caufield & Buyers - Founded in 1972, KPCB is considered to be one of the most successful and influential venture capital firms in the world. In early 2011, KPCB purchased $38 million in Facebook stock from other shareholders at a $52 billion valuation according to the Wall Street Journal. Although KPCB made its mark during the dot-com era with investments in Amazon.com and Google, the firm diddled with un-realized cleantech investments for most of the last decade. KPCB is now sipping from the social web Kool-Aid, and has purchased stakes in Groupon, Twitter and Zynga, in addition to Facebook. The navigation towards social networking investments comes on the heels of KPCB's recently announced sFund, a $250 million initiative to invest in entrepreneurs inventing social applications and services.
- No of Shares held pre-IPO: 1.743 million (est)
- Value of Shares held pre-IPO @ $38.00: $66.234 million
- No of Shares sold during IPO: Unknown (assumed holding on to shares)
- Cash from IPO: Unknown
- No of Shares held post-IPO: Unknown
- Value of Shares held post-IPO @$38.23: Un
Facebook Key Current Employees
- Mark Zuckerberg, CEO and co-founder - Selected TIME Magazine's "Person of the Year" in 2010, Mark Zuckerberg has been credited for connecting the world via Facebook. Raised in Dobbs Ferry, NY, Zuckerberg began writing software while in middle school and by the end of high school, he had co-written a music recommendation program called Synapse Media Player, which Microsoft and AOL reportedly offered Zuckerberg a million dollars to further develop. "Zuck" however turned them down and ran off to attend Harvard.
While in his ivy covered Cambridge dorm, Zuckerberg created Facemash, a website that compared students' photos side-by-side in a fashion similar to HOT or NOT.com. After disciplinary action from the school's administration, Zuckerberg shut down Facemash and began "thefacebook," initially only available to Harvard students. Zuckerberg has since defended the site in intellectual property disputes and spurned buyout offers from Viacom, Yahoo!, Microsoft and other suitors. The 28 year old CEO owns 28.2% of Facebook's B shares.- No of Shares held pre-IPO: 533.802 million
- Value of Shares held pre-IPO @ $38.00: $20.284 billion
- No of Shares sold during IPO: 30.200 million
- Cash from IPO: $1.148 billion
- No of Shares held post-IPO: 503.602 million
- Value of Shares held post-IPO @$38.23: $19.252 billion
- Sheryl Sandberg, Chief Operating Officer - Sheryl has served as the chief operating officer of Facebook since March 2008. Formerly the Vice President of Global Online Sales and Operations at Google, Zuckerberg wooed her away from Google after a series of stealthy meetings and dinners at Sandberg's home. Though her base salary of $300K is modest, Sandberg didn't leave her Google position for nothing.
She is currently sitting on nearly 1.9 million shares of Facebook stock valued at $722 million. But the real serious dinero will come down the road as nearly 40 million shares of restricted stock will vest. The one-time chief of staff for Larry Summers at the U.S. Treasury Dept. can then start her own Treasury with approximately $1.8 billion worth of Facebook shares.- No of Shares held pre-IPO: 1.900 million
- Value of Shares held pre-IPO @ $38.00: $72.200 million
- No of Shares sold during IPO: None
- Cash from IPO: None
- No of Shares held post-IPO: 1.900 million
- Value of Shares held post-IPO @$38.23: $72.637 million
- David Ebersman, Chief Financial Officer - David joined the social media concern in 2009 after a long stint at biotech firm, Genentech. Ebersman landed the job shorly after Facebook ousted Gideon Yu from the position, citing at the time its desire to find someone with
"public company experience." Ebersman will be living quite well after the IPO, as he currently sits on 2.4 million shares, and holds another 7.5 million in restricted stock.- No of Shares held pre-IPO: 2.400 million
- Value of Shares held pre-IPO @ $38.00: $91.200 million
- No of Shares sold during IPO: None
- Cash from IPO: None
- No of Shares held post-IPO: 2.400 million
- Value of Shares held post-IPO @$38.23: $91.752 million
- Mike Schroepfer, V.P. of Engineering - Mike is an entrepreneur, technical architect and manager who has been the Vice President of Engineering at Facebook since 2008.
He was recently listed as number 20 in the 25 Most Influential People in Mobile Technology by Laptopmag.com. In 2010 Fortune listed him, and two colleagues at Facebook's technical branch, as joint number 27 in their list of the 40 top entrepreneurs under forty. Similar to his brethren of C-Level execs at Facebook, Schroepfer holds 2.292 million shares of Facebook, and another 6.1 million shares of restricted stock.- No of Shares held pre-IPO: 2.292 million
- Value of Shares held pre-IPO @ $38.00: $87.096 million
- No of Shares sold during IPO: None
- Cash from IPO: None
- No of Shares held post-IPO: 2.292 million
- Value of Shares held post-IPO @$38.23: $87.623 million
- Theodore Ullyot, General Counsel - Theodore is an attorney and former government official, and is currently the general counsel for Facebook.
Ullyot served in the George W. Bush Administration from January 2003 to October 2005, including stints as Chief of Staff at the Department of Justice, and as a Deputy Assistant to the President. Ullyot holds 2.025 million shares of Facebook as well as another 3.8 million shares of restricted stock.- No of Shares held pre-IPO: 2.025 million
- Value of Shares held pre-IPO @ $38.00: $76.950 million
- No of Shares sold during IPO: None
- Cash from IPO: None
- No of Shares held post-IPO: 2.025 million
- Value of Shares held post-IPO @$38.23: $77.416 million
- Jeff Rothschild, V.P. of Technology - Jeff Rothschild was in his fifties and retired when Facebook CEO Mark Zuckerberg recruited the co-founder of software company, Veritas. In 2005, Rothschild was brought in as a part-time consultant by Accel Partners colleague Kevin Efrusy, who had spearheaded the Facebook deal. However, Zuckerberg convinced the retiree to take a full-time position with the company.
Concerned that Facebook would undergo a server crash similar to social networking pioneer Friendster, Zuckerberg sought to utilize Rothschild's deep knowledge of data centers to avoid such a problem. Since 1979, Rothschild has been active in the areas of storage management, system software, and networking. As the Vice President of Technology, Rothschild leads the engineering team and focusing on scalability and performance. He is concurrently a Consulting Partner at Accel Partners, the first venture capital firm to invest in Facebook.- No of Shares held pre-IPO: 22.368 million
- Value of Shares held pre-IPO @ $38.00: $850 million
- No of Shares sold during IPO: Unknown (assumed he sold a small part of his stake)
- Cash from IPO: Unknown
- No of Shares held post-IPO: Unknown
- Value of Shares held post-IPO @$38.23: Unknown
Facebook Key Former Employees
- Dustin Moskowitz, former V.P. of Engineering and CTO - Man, was this guy lucky to be Mark Zuckerberg's roommate? Currently the youngest U.S. billionaire, Dustin Moskovitz was one of the original founding Facebook cadre. Born in Washington D.C., Moskovitz met his fellow co-founders at Harvard University in 2004 where they developed the social networking site from their dorm room.
Moskovitz was an economics major before dropping out of college to relocate to Palo Alto, CA to work on Facebook full-time. Credited as both Vice President of Engineering and Chief Technology Officer, Moskovitz led the technical staff, oversaw the major architecture of the site, and was responsible for the company's mobile strategy and development. He left Facebook in 2008 to start Asana, a company that builds project management software to help companies collaborate. Moskovitz was able to garner the title of "United States Youngest Billionaire" over Mark Zuckerberg because he is eight days younger than his fellow co-founder.- No of Shares held pre-IPO: 133.699 million
- Value of Shares held pre-IPO @ $38.00: $5.080 billion
- No of Shares sold during IPO: None
- Cash from IPO: None
- No of Shares held post-IPO: 133.699 million
- Value of Shares held post-IPO @$38.23: $5.111 billion
- Eduardo Saverin, former CFO and co-founder - One of the three original founders of Facebook, Eduardo Saverin was a Harvard classmate of Mark Zuckerberg. Acting as the business partner of "The Facebook," in 2004, Saverin concentrated on developing advertiser relationships while Zuckerberg focused on product development. When Facebook moved its operations to Palo Alto and Sean Parker gained more influence, Saverin ended up on the losing side of a power struggle.
Initially granted a 30% stake in Facebook, Saverin's position was whittled down as institutional investment rounds diluted his shares. Saverin was born in São Paulo, Brazil to a wealthy Brazilian Jewish family and was raised in Miami, Florida, the state where he initially incorporated Facebook. In 2006, Saverin graduated magna cum laude from Harvard University with a B.A. in Economics. Saverin at one point owned 4.1% of Facebook stock, but has trimmed back his holdings substantially and now owns about half, but Forbes estimates his net worth at $2.7 billion. Currently living in Singapore. Saverin has been spreading his bucks around and is a major investor in a new social network called Qwiki, as well as Jumio, an online and mobile payment product. Saverin made headlines in recent days after it was revealed that he had renounced his U.S. citizenship last year. Many people, including two U.S. senators, accused the 30-year-old of dodging taxes. Saverin struck back, saying, “It is unfortunate that my personal choice has led to a public debate, based not on the facts, but entirely on speculation and misinformation.”- No of Shares held pre-IPO: 53.133 million
- Value of Shares held pre-IPO @ $38.00: $2.019 billion
- No of Shares sold during IPO: Unknown (assumed none)
- Cash from IPO: Unknown
- No of Shares held post-IPO: 53.133 million
- Value of Shares held post-IPO @$38.23: $2.031 billion
- Sean Parker, former first President of Facebook - Part tech genius, part bad-boy, Sean Parker has displayed uncanny foresight and comprehension of Internet business strategy. However, his fondness for hard partying and run-ins with the law have also left him as the odd-man out in business ventures. At the age of 16, Parker's Virginia home was raided by the FBI when he was caught hacking systems of Fortune 500 companies. In 1999, at the age of 19, he co-founded the online music sharing service, Napster. At a trendy Chinese restaurant in New York in 2004, Parker met Facebook co-founder Mark Zuckerberg and became a mentor and advisor to the rising entrepreneur.
Much like Napster, Parker was able to foresee Facebook's success and societal contributions only months into its inception. Acting as the company's first President, Parker negotiated a deal with Facebook's first investors Peter Thiel and Accel Partners, giving Zuckerberg absolute control of the board of directors. Ousted from Facebook in 2005 for a drug-related arrest, Parker went on to become Managing Partner of Founders Fund, a San Francisco-based venture capital firm. Parker still acts as an informal advisor to Zuckerberg.- No of Shares held pre-IPO: 69.654 million
- Value of Shares held pre-IPO @ $38.00: $2.647 billion
- No of Shares sold during IPO: None
- Cash from IPO: None
- No of Shares held post-IPO: 69.654 million
- Value of Shares held post-IPO @$38.23: $2.663 billion
- Chris Hughes, former Public Relations and Customer Service Manager - Known amongst Facebook insiders as "The Empath" for his ability to understand people, co-founder Chris Hughes was the spokesman for the social networking site. Unlike his fellow co-founders, Hughes did not write code or generate advertising sales. Instead, his focus was on the user, making him part customer service representative, part public relations specialist. Hughes was born in Hickory, North Carolina, and attended Harvard University where he met his roommates and Facebook co-founders Mark Zuckerberg and Dustin Moskovitz. In 2007, Hughes left Facebook to serve as the coordinator of online organizing for Barack Obama's 2008 presidential campaign utilizing My.BarackObama.com. Hughes was the subject of an April 2009 cover story in Fast Company magazine under the headline, "The Kid Who Made Obama President."
The openly-gay entrepreneur graduated magna cum laude from Harvard University with a B.A. in Literature and History, and in January 2011, announced his engagement to partner Sean Eldridge. Hughes currently resides in New York, NY and is now Co-Founder & Executive Director of Jumo, a startup that aims to use the social web to foster long-term relationships of responsibility between individuals and organizations working to change the world. In March, 2009 Hughes was named Entrepreneur in Residence at General Catalyst Partners, a Cambridge, Massachusetts venture-capital firm.- No of Shares held pre-IPO: 22.368 million
- Value of Shares held pre-IPO @ $38.00: $850 million
- No of Shares sold during IPO: Unknown (assume he sold part of his stake)
- Cash from IPO: Unknown
- No of Shares held post-IPO: Unknown
- Value of Shares held post-IPO @$38.23: Unknown
- Matt Cohler, former Vice President of Product Management - Matt was the first external executive hire at Facebook and also one of the first five employees to be hired by the company's founders. Cohler joined Facebook in 2005 during the company's critical growth period and helped drive Facebook's strategy, organizational growth and product direction.
Prior to Facebook, Cohler was a founding member, Vice President, and General Manager at LinkedIn. In 2008, Cohler left Facebook to become General Partner at the Silicon Valley venture firm Benchmark Capital. Cohler's decision to leave Facebook came shortly after the departure of co-founder and Chief Technology Officer Adam D'Angelo, and according to some reports, has left speculation about the changing dynamic and culture of the company. However, Cohler continues to act as a special advisor to CEO Mark Zuckerberg.- No of Shares held pre-IPO: 2.737 million (est)
- Value of Shares held pre-IPO @ $38.00: $850 million
- No of Shares sold during IPO: Unknown (assume he sold all or part of his stake before IPO in the secondary market)
- Cash from IPO: Unknown
- No of Shares held post-IPO: Unknown
- Value of Shares held post-IPO @$38.23: Unknown
- Adam D'Angelo, former Chief Technology Officer - Seriously-- does this guy look old enough to even drive? Adam D'Angelo met Facebook co-founder Mark Zuckerberg while the two were still teenagers attending "uber" preppy prep school, Phillips Exeter Academy.
Initially, D'Angelo worked on the first "app" for Facebook called Wirehog, a peer-to-peer file sharing program. He later went on to become Chief Technology Officer where he led the Platform Development and Data teams, and oversaw new product design and architecture. D'Angelo maintained the CTO position for two years before leaving in June 2009 to co-found Quora, an online database of information organized by questions and answers created by users.- No of Shares held pre-IPO: 17.895 million (est)
- Value of Shares held pre-IPO @ $38.00: $680 million
- No of Shares sold during IPO: Unknown (assume he sold all or part of his stake before IPO in the secondary market)
- Cash from IPO: Unknown
- No of Shares held post-IPO: Unknown
- Value of Shares held post-IPO @$38.23: Unknown
- Owen Van Natta, former Chief Operating Officer - Owen joined the Facebook team in 2005 as Chief Operating Officer where he focused on revenue operations, business development, and strategic partnerships. Van Natta played a key role in Facebook's early lucrative ad deal with Microsoft, which resulted in the software company paying $240 million for a 1.6% stake in the social network, giving Facebook a $15 billion valuation.
He left Facebook in 2008 to serve as Chief Executive Officer of Project Playlist and in 2009, became Chief Executive Officer of Myspace. In 2010, Van Natta stepped down from his Myspace position to join Zynga as Executive Vice President of Business. According to Business Insider.com, Van Natta had aspirations of becoming Facebook's CEO, but left the company when it became clear to him that Mark Zuckerberg would not likely be replaced.- No of Shares held pre-IPO: 17.895 million (est)
- Value of Shares held pre-IPO @ $38.00: $680 million
- No of Shares sold during IPO: Unknown (assume he sold all or part of his stake before IPO in the secondary market)
- Cash from IPO: Unknown
- No of Shares held post-IPO: Unknown
- Value of Shares held post-IPO @$38.23: Unknown
- Justin Rosenstein, former Facebook engineer - Justin Rosenstein may in fact be the most mysterious of all of Facebook's big stock holders, having received little publicity relative to players like Sean Parker or the Winkelvii twins. Even David Choe, the graffiti artist, has gotten a New York Times piece. A software whiz poached from Google, Rosenstein played a pivotal role as an engineer with Facebook, leading the technical team that created the now ubiquitous "Like" button.
Currently co-founder of software company, Asana, Rosenstein's sizable holdings show up only in the fine print of Facebook's S-1 filing. Rosenstein possesses a stash of 4.8 million shares of Facebook stock. Interestingly, Dustin Moskovitz, who owns 7.6% of Facebook (and is the co-founder with Rosentsein of Asana), lists Rosenstein as trustee of one of his massive trusts (containing Facebook stock). Apparently the "trust" runs deep between these colleagues, as Rosenstein lists Moskovitz as the trustee for his block of FB stock.- No of Shares held pre-IPO: 4.800 million (est)
- Value of Shares held pre-IPO @ $38.00: $182.400 million
- No of Shares sold during IPO: Unknown (assume he sold all or part of his stake before IPO in the secondary market)
- Cash from IPO: Unknown
- No of Shares held post-IPO: Unknown
- Value of Shares held post-IPO @$38.23: Unknown
Other Notorious Facebook Stakeholders
- David Cho - David Choe is an American painter, muralist, graffiti artist and graphic novelist . According to Wikipedia, Choe achieved art world success with his "dirty style" figure paintings-raw, frenetic works which "combine themes of desire, degradation, and exaltation." On his way to joining the ranks of Facebook centi-millionaires, Choe previously has seen darker, tougher times. In his documentary, "Dirty Hands," he admits to being a shoplifter, and he also claims to have been a looter in the L.A. riots of 1992.
He did jail time in Japan for punching a security guard at his own show in 2005. Invited to create murals in the new Silicon Valley offices of Facebook, Choes opted to get paid in stock, despite believing that Facebook was "ridiculous." According to the New York Times, the amount of stock Choe received will vault him out of the starving artist ranks into the mega-rich.- No of Shares held pre-IPO: 4.800 million (est)
- Value of Shares held pre-IPO @ $38.00: $182.400 million
- No of Shares sold during IPO: Unknown (assume he sold all or part of his stake before IPO in the secondary market)
- Cash from IPO: Unknown
- No of Shares held post-IPO: Unknown
- Value of Shares held post-IPO @$38.23: Unknown
- Cameron and Tyler Winklevoss a.k.a. "The Winklevoss Twins" - The Winklevoss Twins is widely known for their lengthy legal battle with Facebook founder and CEO Mark Zuckerberg. While a senior at Harvard University, the Winklevoss Twins, along with classmate Divya Narendra (see below), conceived the idea for a social networking site for Harvard students called HarvardConnection, later renamed ConnectU. They enlisted the help of the freshman classmate Zuckerberg to write code, and after Zuckerberg verbally agreed to finish the HarvardConnection site, the brothers claimed that he delayed his work, and then developed competitor, "thefacebook.com." The Winklevoss Twins and Narendra sued Zuckerberg for $140 million in 2004, alleging that he had broken a verbal contract and copied their idea, in addition to illegally using source code.
In 2008, after competing in the Beijing Olympics, the jocks reached a settlement with "Zuck," which was reportedly valued at $65 million. However, in 2010, the Twins claimed they were misled about the value of Facebook stock. A federal appeals judge recently affirmed a lower court ruling which said that the twins cannot undo the 2008 settlement. The good looking, buffed and litigious former preppies are the sons of Howard E. Winklevoss, Ph.D., a professor of actuarial science at the Wharton School of the University of Pennsylvania. Dad also operates a couple of businesses and is reportedly worth $100 million.- No of Shares held pre-IPO: 1.069 million (est)
- Value of Shares held pre-IPO @ $38.00: $40.622 million
- No of Shares sold during IPO: Unknown (assumed they have sold all or part of his stake either through the secondary market or the IPO)
- Cash from IPO: Unknown
- No of Shares held post-IPO: Unknown
- Value of Shares held post-IPO @$38.23: Unknown
- Divya Narendra - ConnectU co-founder Divya Narendra was born to two immigrant doctors from India and attended Harvard University in 2000, where he would later meet fellow co-founders Cameron Winklevoss and Tyler Winklevoss. In 2002, Narendra and the Winklevoss twins conceived the ConnectU predecessor HarvardConnection, a social network for Harvard students that would later expand to other universities. After utilizing the programming capabilities of two different Harvard classmates,
Narendra approached Mark Zuckerberg for assistance. When Zuckerberg allegedly did not follow through on his agreement and later established his own social networking site, the founders of ConnectU filed lawsuit, which resulted in a $65 million settlement. Although Narendra continued to be embroiled in lawsuits surrounding Facebook, he moved on to co-found the professional investor networking site SumZero and attends law school at Northwestern University. In a 2010 interview with a Northwestern University publication, Narendra claims that his involvement with the Facebook lawsuits is what led him to pursue a career in jurisprudence.- No of Shares held pre-IPO: .534 million (est)
- Value of Shares held pre-IPO @ $38.00: $20.311 million
- No of Shares sold during IPO: Unknown (assumed they have sold all or part of his stake either through the secondary market or the IPO)
- Cash from IPO: Unknown
- No of Shares held post-IPO: Unknown
- Value of Shares held post-IPO @$38.23: Unknown
COMMENTARY: I hope you have enjoyed reading this blog post. It took me a while to put it together. I am not absolutely 100% sure about the number of shares owned by some of the above investors, current and former Facebook employees and other lucky individuals who made out during the IPO. Several of them probably cashed-out some or all all of their stakes in the secondary market or sold them to angel investors, hedge funds, mutual fun firms, VC firms or wealthy individuals prior to the IPO, so I hope you will forgive me if I made a few mistakes. All of the above re now multi-millionaires or billionaires. Isn't capitalism great?!!
Courtesy of an article dated May 18, 2012 appearing in The Guardian and an article dated May 16, 2012 appearing in USA Today and WhoOwnsFacebook.com
Comments
You can follow this conversation by subscribing to the comment feed for this post.