Facebook Director’s Quick $1 Billion Share Sale Lacks Precedent - Businessweek
Thiel, a Facebook director and its first outside investor, divested 72 percent of his remaining shares three months after it went public. Of the 40 biggest U.S. technology IPOs since the end of 2010, only Facebook and its underwriters let some backers sell so soon, with every other company adopting a so-called lock-up period about twice that long.
Does this mean that the Facebook directors and owners do not have confidence in whether Facebook would be a success going forward? Your guess is as good as mine.
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