![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Tuesday, August 28, 2012 10:45:20 AM
Facebook Inc. (Nasdaq: FB) co-founder Dustin Moskovitz has sold 450,000 shares of his old company for around $8.7 million, according to a regulatory filing, vindicating the company's strategy to remain independent, at least for its founders.
(Photo: Forbes)<br>Dustin Moskovitz, a co-founder of Facebook.
Enlarge
(Photo: Forbes)
Dustin Moskovitz, a co-founder of Facebook.
Share This Story
6
Moskovitz still has more than125 million shares of Facebook Class B stock, which have 10 times the voting power, worth around $2.4 billion based on Facebook's current share price. He also converted another 7 million Class B shares into Class A shares, which allows them to be sold publicly.
Moskovitz, 28, holds the title of the world's youngest self-made billionaire -- he is eight days younger than Mark Zuckerberg -- and handled the programming side of the website in its early days.
As TechCrunch reported last year, a significant moment in the social network's development was a decision to reject Yahoo Inc.'s (Nasdaq: YHOO) $1 billion offer in 2006. And while that decision was ultimately Zuckerberg's, Moskovitz has retained a similar independent streak when it comes to his new ventures.
Must Read
SpainA New Run On The Banks? Spaniards Pulling Cash Out At Record Rates
Dodd and Frank speak to the press at the White House in WashingtonTwo Years Later, Dodd-Frank Is Only Half Finished
Sponsorship Link
Image Ad
NVMN Countdown Begins
In October 2008, he left Facebook to found Asana, a task management web application. The company has received $10.2 million in two rounds of funding from PayPal veteran Peter Thiel, Facebook's former president Sean Parker, and venture capital firms Andreessen Horowitz and Benchmark Capital. Asana "has refused to engage in conversations about a flip," according to Techcrunch, in contrast to smaller firms like Skype, which was sold to Microsoft Corp. (Nasdaq: MSFT) and OMGPOP, creator of "Draw Something," which was gobbled up by Zynga Inc. (Nasdaq: ZNGA).
Moskovitz has done some angel investing of his own, and passed along his ethos. He was the biggest backer of ex-Facebook executive David Morin's Path, a social network and photo sharing service. Moskovitz gave Morin the confidence to not to sell the company to Google Inc. (Nasdaq: GOOG) and remain independent, according to Techcrunch.
Moskovitz also founded philanthropic foundation Good Ventures with his fiance, Cari Tuna. Last week, Good Ventures and other investors raised $15 million Series A funding for Vicarious, a startup that is working to develop "software that thinks and learns like a human."
Meanwhile, Zuckerberg's Facebook has had a role reversal: With its $750 million acquisition of Instagram, it's become a buyer itself.
Facebook shares closed Monday at $19.15, only 15 cents above half its IPO price set on May 17.
http://www.ibtimes.com/articles/377849/20120827/facebook-dustin-moskovitz-sells.htm
Recent META News
- Qualcomm Develops Mixed Reality Glasses; Verizon to Boost Dividend, Eyes Acquisition; Samsonite Plans US Dual Listing • IH Market News • 09/05/2024 10:11:35 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 12:10:19 AM
- Nvidia Subpoenaed by DOJ, Athira Pharma Shares Plunge 71% After Study Fails, Zscaler Falls 15% Post-Earnings • IH Market News • 09/04/2024 09:50:25 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/04/2024 12:40:43 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/04/2024 12:36:05 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/03/2024 08:04:59 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/30/2024 08:46:59 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/30/2024 08:20:56 PM
- Intuitive Machines Soars 18% on NASA Contract, Intel Considers Splitting Operations, Dell Reassesses Selling SecureWorks • IH Market News • 08/30/2024 10:00:08 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/29/2024 10:06:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/29/2024 10:04:38 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/29/2024 08:29:56 PM
- Big Lots Falls 27%, Considers Bankruptcy; DraftKings Acquires Simplebet, Berkshire Hits $1 Trillion • IH Market News • 08/29/2024 10:06:50 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/29/2024 12:45:19 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/29/2024 12:42:36 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/29/2024 12:40:15 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/28/2024 08:35:28 PM
- High Volatility Expected in Nvidia Report, Ambarella Soars 20%, Hertz Strengthens Board, Apple Cuts Jobs • IH Market News • 08/28/2024 09:50:36 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/27/2024 10:09:09 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/27/2024 09:16:51 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/27/2024 09:03:52 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/27/2024 08:06:37 PM
- Apple Names New CFO, Sony Hikes PS5 Price in Japan, Santander Launches Share Buyback • IH Market News • 08/27/2024 09:35:22 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/27/2024 01:40:16 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/27/2024 01:37:51 AM
VAYK Confirms Receiving Revenue from First Airbnb Property with 1.4 Million Annual Revenue Goal • VAYK • Sep 4, 2024 9:34 AM
Mawson Finland Limited Expands Known Mineralized Zones at Rajapalot: New Lens Intercepts 21.75 m at 5.25 g/t Gold & 515 ppm Cobalt • MFL • Sep 4, 2024 9:02 AM
Integrated Ventures Acquires 51% Stake In GetTrim.Com (TM), Telemedicine Platform With Focus On Expansion Into Booming GLP-1 Powered Weight Loss Market • INTV • Sep 4, 2024 8:45 AM
Avant Technologies Announces Strategic Review Process Intended to Maximize Shareholder Value • AVAI • Sep 4, 2024 8:00 AM
PickleJar Launches National "Get on the Bus" Campaign, Unveils Thompson Square Tour Bus Wrap • PKLE • Sep 4, 2024 7:17 AM
Maybacks Global and Inventel Products To Launch Global 24 Hour Shopping Channel • AHRO • Sep 3, 2024 9:15 AM