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Feb 8, 2007 08:20 AM
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Sat Mar 13
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As filed with the SEC, Youtube founders Chad Hurley and Steve Chen — along with a crowd of other investors — plan to sell off a huge chunk of the Google stock acquired when Youtube was purchased by the search corp. The numbers are indeed sweet: based on current stock prices, Hurley's shares are worth $345 million plus, and eligible bachelor Chen's $326 million plus. But who's the real big winner?
That would be Sequoia Capital, which originally invested $11.5 million in Youtube; the fund stands to rake in north of $442 million from selling stock (plus another $62 million from a couple other Sequoia fund investments). Youtube co-founder Jawed Karim, who left the party a little early, must be satisfied with a mere $64 million. Even broadcaster Maury Povich will make a little green off this thing. FuckedGoogle claims the whole thing is the de rigeur payday for Sequoia, who was given that equity stake in order to grease the wheels of the Youtube sale originally. If so, maybe a little fraudish. Hey man, who cares, we're rich!
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