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03 Feb 2012 17:04

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Biz: Mark Zuckerberg won’t enjoy his tax bill after Facebook goes public

  • $1.5 billion in taxes for the Zuck after Facebook’s IPO source
  • » Why? Zuck plans to sell some of his shares: Back in 2005, Facebook founder Mark Zuckerberg received a set of new stock options for his company. With said company looking to  go public, Zuckerberg will exercise those shares before the IPO, effectively buying them at the price they were worth back then, and sell them after the IPO, effectively setting himself up for a windfall of nearly $5 billion … and one of the largest tax bills in history. It’s not like he’s gonna be broke, though — in fact, he’ll still be worth $24 billion by the end of it, much of that invested in his company. So hard for him, gotta tell you guys.
Posted by Ernie Smith • 0 Comments • Permalink

28 Jan 2012 20:53

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Biz: Greedy investment bankers won’t carve Facebook’s IPO too heavily

  • what Investment banks looking to get in on the upcoming Facebook IPO, expected to be filed for next week, may only take a 1 percent underwriting fee on the stock offering. How abnormal is that? Usually, the investment banking underwriters take 5 to 7 percent.
  • why Simply put, Facebook is such a big deal that the competition is extremely high for it; underwriting it is seen as a prestige move. “The Facebook IPO will be iconic,” notes one investment banker who says that Facebook gets to set the rules on this one. source
Posted by Ernie Smith • 0 Comments • Permalink

29 Nov 2011 00:37

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Tech: Aw, Zucks. We’re hoping this won’t “poke” our portfolios too badly.

  • Want to own a piece of Facebook? You might be able to in the spring of 2012. It looks like, despite founder Mark Zuckerberg’s well-known resistance to the idea over the years, the company is on its way to its “initial public offering” — the sale of stock that a private company makes available to the public. (Groupon just had an IPO, and it hasn’t been going quite so well for them.) The social media trailblazers could raise as much as $10 billion from first-day stock sales; that would put the company’s total value at $100 billion. Not bad for a guy who screwed over most of his friends from Harvard (and a couple of Winklevi) to get there. source
Posted by samimain • 0 Comments • Permalink
 
 
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