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Facebook Employees Cashing In Millions of $

Apparently, Facebook employees may be getting nasty rich. According to the Business Insider, Digital Sky Technologies is purchasing $100 million worth of stock from former and current Facebook employees at a $6.5 billion valuation. Although the current Facebook executive team is not selling its stock, DST has given the employees twenty days to decide whether or not they should take the offer.

“While individuals must make their own decisions about participating in this program, I’m pleased that the price DST is offering is much greater than the price originally considered last fall," said Facebook CEO Mark Zuckerberg. "This is recognition of Facebook's growth and progress towards making the world more open and connected.”

Business Insider said that the employees wont be able to sell all of their stock. Still, if taken, the cash may be more than many of the employees originally envisioned when they joined Harvard dropout Zuckerberg and helped kick-start what is now a social networking giant.

  • cruiseoveride
    How does facebook make so much money?
    Reply
  • rigaudio
    cruiseoverideHow does facebook make so much money?They sell your personal info to advertisers for many American dollars.
    Reply
  • IzzyCraft
    rigaudioThey sell your personal info to advertisers for many American dollars.How does Google make so much money?

    Same way adverts pay money how do you think tv that isn't like hbo works? If i was facebook stock holder i would sell out with in the year i doubt it will stay as powerful as it is for another year. It's the trend in all these things like friendster xanga myspace etc.
    Reply
  • Spanky Deluxe
    rigaudioThey sell your personal info to advertisers for many American dollars.
    Not quite true. They use your information to give you targeted adverts. They don't give advertisers direct copies of all that you put on your wall but advertisers can pay Facebook to show their adverts to, for example, people who have the interest "cats" or "overclocking" on their Facebook page. Hence why, if you have both interests, you may get an advert for a phase change cooled perpetual motion device composed of a cat with a buttered sandwich strapped to its back.
    Reply
  • apache_lives
    lol unlike myspace

    haha i deleted my profile a while ago and its still there - somethings going sour there me thinks.
    Reply
  • matt87_50
    ahh facebook, further proof that with "web 2.0" will surely come a "tech bubble 2.0"
    Reply
  • pirateboy
    sell sell sell....facebook will die pretty soon
    Reply
  • LATTEH
    if i was team i would cash in and start making a another kind of facebook/myspace
    Reply
  • lumpoco
    Facebook doesn't sell your personal info to makes large sums of money. In fact, most social networking sites are broke. The only reason Facebook is getting alot of interest is the potential that it presents once people figure out how to make money running sites that cater to immature and non productive members of society. Also, as someone has already said, Facebook will die soon so why the big fuss?
    Reply
  • Where do you get these "Facts" from that "most social networking sites are broke" ???

    Any high-traffic, targeted online advertising can be VERY profitable. Think of it as TV ads for kids being put on kids shows during the hours they're home from school. What Facebook, Myspace etc. do is even more refined and targeted than that.

    I think Facebook will be around for many years to come. They're at the point where other social networking sites have gone through ups and downs and they've learned from all of that, and they're continuing to add in new features and applications to keep it fresh (and fun I'm sure some would say).

    I'd only sell enough as an employee to buy a new car, pay off the house, or get the cash to lock up in an education fund for the kids (if I had any!). The rest I'd let cook for a while longer :)
    Reply