Early Twitter Employees Selling Shares Valued At $9.9 Billion
So maybe that “early Twitter investors” scam isn’t making such an outlandish claim (It is, don’t click those tweets).
But according to Fortune, multiple sources say there is yet another block of early employee shares available, at a valuation of $9.9 billion.
What do we mean by ANOTHER?
The first round came last week, when investment management giant, BlackRock, offered to buy around $80 million of Twitter stock in a transaction that would value the short-messaging service at more than $9 billion.
This round of shares, 9.9 billion worth, “were secured by a fund affiliated with Gentry Venture Partners, which has been pitching the deal to clients.”
It would seem the premium was to prevent the offering from being prevented by Twitter, which has been particularly stingy with employee liquidity — apparently in a response to the Facebook (FB) free-for-all. No word yet on how many shares are in the block, or how well Gentry is doing in terms of attracting interest.
But again, this is said to only apply to EARLY Twitter employees. How early is “early?” According to Reuters, “several hundred Twitter employees, including many who joined the company before 2009, will be eligible to sell their shares as part of the transaction.”
So let’s see: 18.9 billion divided by “several hundred” equals one truckload of money for each for them. Looks like Costolo wasn’t exaggerating after all.
(Truck image from Shutterstock)
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Nadine Cheung
Editor, The Job Post
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