Follow TechBlips on Twitter
![Facebook cancels employee stock sale [Meltdowns]](http://images.dailyradar.com/media/uploads/tech/story_story/2008/12/04/facebook_cancels_employee_stock_sale_meltdowns.jpg)
-
galaga Ouch- this doesn't look great for Facebook.
Facebook delays employee stock sale, citing recession
VentureBeat —
... the current environment, we’ve decided to establish an open-ended timetable for an employee stock sale program. Despite the turbulence in the financial markets and resulting challenges, we believe the company is very well positioned to handle this economic downturn. We have the means to go after big opportunities that will help solidify our position as the platform that everyone uses to share while building a fundamentally strong business.
Valleywag says it has obtained an email Facebook chief executive Mark Zuckerberg sent to the company this afternoon: ...
Facebook Can't Find Buyers For Employee Stock
Silicon Alley Insider —
Suddenly, even a $4 billion valuation for Facebook seems generous. Valleywag's Owen Thomas:
Facebook CEO Mark Zuckerberg has cancelled a plan to let employees cash out their shares early.
In August, before the markets started to melt down and with Facebook worth $15 billion on paper, Zuckerberg unveiled a plan to let employees sell a small amount of their shares - no more than $900,000 or 10 percent of their stock holdings, whichever was less. The program, all but unheard of among Valley startups, was meant to appease employees who were agitating for some ...
Facebook Stock Sale Called Off
All Facebook —
... It looks like the once much hyped Facebook stock sale has been called off. Owen Thomas of Valleywag was first to report the news following receipt of an internal email from Mark Zuckerberg in which he states that the company hasn’t been able to finalize a plan for the employee stock sale. Not good news for those Facebook employees who were looking to cash out just under $1 million of shares. ...
Facebook Delays Employees Stock Sale, Citing Economy
paidContent —
... , Facebook employees were allowed to sell a portion of their shares vested by Nov. 1—up to 20 percent of their options for a maximum of $900K—at around a $4 billion company valuation, but there have been few takers at the price. The program was a way for employees to get some money while the company builds up the business before an IPO down the line, and was viewed as an employee retention move. The news, first reported by Valleywag and then confirmed ...
Mark Zuckerberg: Bad Santa
Digital Daily —
... timetable” Facebook’s using for that mythical liquidity event, hmm? Without a silver bullet business model and no stable revenue stream to speak of, investors were bound to question Facebook’s perceived valuation sooner or later. And, apparently that’s exactly what happened, according to Valleywag’s Owen Thomas. “Facebook’s common shares … have a value that put the whole company’s worth at around $4 billion,” Thomas explains. “Or they did. A source close to potential investors said they wanted to buy shares ...
Around the Web 12.5.08: Gadget slowdown, Kevin Rose's geek gifts, Microsoft Web chief
L.A. Times Tech Blog —
... -- Facebook wanted to let its employees cash in by selling some of their pre-IPO stock, but the unusual plan was scrapped because of the financial meltdown. Valleywag ...
Facebook Puts Employee Stock Sale On Hold
WebProNews Feed —
... is in a strong position. Still, all things considered, this reversal may do Facebook, its current investors, and its employees a big favor. A sale that revealed a soft market for Facebook shares would damage the company's value and leave workers feeling slighted. Better to wait until established corporations like Microsoft, Google, and eBay aren't sitting near multi-year lows. For whatever it's worth, Mark Zuckerberg sounds genuinely sorry about the situation, too. According to Owen Thomas , he told employees in an email, "I'm writing this note to let you know some bad ...
Facebook Indefinitely Delays Employee Stock Sale Plan, Citing Economy
Inside Facebook —
Facebook CEO Mark Zuckerberg sent a memo to employees letting them know that the employee stock sale plan that had been planned to go into effect by the end of the year has been delayed, Valleywag reports.
In the memo, Zuckerberg told employees,
I’m writing this note to let you know some bad news. Despite a lot of work, we have not been able to finalize a plan for the employee stock sale we announced in August.
Facebook later said the change of plans was due to a worsening economy: ...
