Jackpot, facebook, li ka-shing, mark zuckerberg, owen van natta, top

Hong Kong tycoon doubles Facebook stake as employees eye exits

Facebooked Li Ka-shing, the Hong Kong telecom billionaire, has upped his stake in Facebook, investing another $60 million in the social network. His new total: $120 million, or half of Microsoft's stake. The valuation: Still $15 billion. All the cash flowing into Facebook has gotten some Facebookers thinking about selling. CEO Mark Zuckerberg remains too cash-poor to buy his own house, but a handful of employees are cashing out.

One is former COO Owen Van Natta, who won the right to sell shares as part of his departure from the company. The others, we're told, are a handful of "hardship cases." Zuckerberg has said an IPO won't come until 2009 at the earliest; in the meantime, he's resisting efforts to create a free market in its still-private shares. To my mind, the persistent rumors — apparently untrue — that Zuckerberg himself has sold shares just show how eager his underlings are to cash out.

2:40 PM on Thu Mar 27 2008
By Owen Thomas
3,033 views
10 comments

Comments

kilvano at 03:05 PM on 03/27/08
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With that amount of cash kicking around Faceass you would think he could afford to cash in a million or two to buy his house and some goodies. God knows he's earned it!
michaellamb at 03:11 PM on 03/27/08
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facebook is boring. these sites are only exciting when they grow.
free_day at 04:10 PM on 03/27/08
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Li should try Facebook first before putting any more money into that dying business.

Facebook has lost its appeal just like My Space. Same boring crap.
marciabling at 04:25 PM on 03/27/08
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let him buy a new house, a new jet, a high-priced girl, a wedding on nekkar island, he deserves it.
random_play at 05:37 PM on 03/27/08
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Connectedness Index: 16
Brought to you by Acura TSX

Li Ka-shing
Best. Tycoon name. EVAR!
Fidel on the Roof at 05:43 PM on 03/27/08
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He will get what he deserves... believe me. And it ain't what you are thinking.

This Li guy... pouring money into faceless, is a sucker.

BS
BartKela at 06:50 PM on 03/27/08
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Facebook is sooooo last year.
H8terade at 09:23 PM on 03/27/08
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@random_play: Haha, beleee dat!
microserfin at 05:45 AM on 03/31/08
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@random_play that was pure comedy.
I said then and I'm sticking to it.... Zuck and the whole Facebook crew should have taken Yang's Billion and ran to the bank. Insted everyone over there started waving their 1 inch dicks in the air thinking the company should be valued in the multi billions? For what....the then upcoming release of Beacon?
LOL

Zuck is 12 months away from a soup kitchen unless they wise up over there....you'll see
Fidel on the Roof at 12:01 PM on 04/01/08
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They won't wise up.

They are going the way of the AOL Keyword... outta here!