Facebook co-founder sells off shares

Comment on this story
iol scitech april 30 Dustin Moskovitz AFP File photo: Dustin Moskovitz, co-founder of the Facebook social networking website.

New York - 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.

Moskovitz was Mark Zuckerberg's Harvard roommate when they founded Facebook in 2004. He disclosed in a regulatory filing late Tuesday that he sold the shares on Friday, Monday and Tuesday in blocks of 150,000.

He sold the shares for $18.79 to $20.08 each for proceeds of nearly $9 million.

Moskovitz, 28, left Facebook in 2008 and started Asana, whose software helps manage projects.

He did not sell any stock in Facebook's IPO.

He still owns more than 133 million shares. Based on the filing, he could sell 7 million more shares he converted from Class B to Class A. - Sapa-AP

Hungry for more scitech news? Sign up for our daily newsletter



sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.