While all the lemmings scurried to buy FACEBOOK'S IPO the insiders at FACEBOOK knew that the social network website was a limited revenue generator whose current fiscal model was unsustainable. They dumped their stock as fast as they could. The results below speak for themselves.
Mark Zuckerberg, Facebook's CEO, sold 30.2 million shares for $1.14 billion
Accel Partners, an early Facebook
investor, sold 57.7 million shares for $2.1 billion
Peter Thiel, a very early Facebook investor, sold 16.8 million shares for $638 million
DST Global, a Russian investment fund, sold 45.7 million shares for $1.7 billion
Goldman Sachs, a Facebook investor, sold 24.3 million shares for $923 million
Elevation Partners, a Facebook investor, sold 4.6 million shares for $175 million
Greylock Partners, a Facebook investor, sold 7.6 million shares for $289 million
Mail.ru Group, a Russian Internet company, sold 19.6 million shares for $745 million
Mark Pincus, the CEO of Zynga, sold 1 million shares for $38 million.
Meritech Capital sold 7 million shares for $266 million
Microsoft, a Facebook partner and investor, sold 6.6 million shares for $250 million
Tiger Global, a hedge fund, sold 19 million shares for $722 million
Reid Hoffman, a Silicon Valley investor, sold 943,000 shares for $36 million
Facebook insiders dumped 241 million shares for a total profit of $9.8 billion.
Those shares are now worth $4.8 billion and falling like a rock.
