Peter Thiel, co-founder of online payment site PayPal has sold 20.6 million shares Facebook. He was an early investor social network.
Facebook has lost one of its early investors, Peter Thiel, known for having created the online payment service Paypal, sold most of its shares in Facebook last weekend. The view stock on Monday sent to the Securities and Exchange Commission (the U.S. agency controls financial markets), the contractor sold 20.6 million shares Facebook last Thursday and Friday.
He had initially 23.6 million according to Forbes magazine who has performed this operation at the end of the first lock-in period, which occurred on Thursday, during which the shareholders of U.S. social network did not have the right to sell their shares, to avoid too massive influx of titles on the market. Four other blocking periods are planned, which could still lose many shares of the Californian giant, which expects a loss of 1.9 billion shares in the next nine months. Each share was sold at a price range between 19.02 and 20.70 dollars, between 15.85 and 17.25 euros, which corresponds to an assignment of more than 350 million euros. This is more symbolic than Peter Thiel, whose fortune is $ 1.5 billion according to Forbes, he was one of the first to invest in the social network founded by Mark Zuckerberg and he was part of its board of directors. Facebook has already lost half of its share value, only three months after its introduction on the Nasdaq in May. Monday, the action went below $ 19 before closing at 20.01 dollars. Palo Alto is currently experiencing a period of turmoil. Last week, four of its leaders had decided to leave the adventure.