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	<title>Digital Daily &#187; preferred stock</title>
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	<description>by John Paczkowski</description>
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		<title>Mark Zuckerberg Has Sent You a Gift:  A Small Fortune</title>
		<link>http://digitaldaily.allthingsd.com/20080804/mark-zuckerberg-has-sent-you-a-gift-a-small-fortune/</link>
		<comments>http://digitaldaily.allthingsd.com/20080804/mark-zuckerberg-has-sent-you-a-gift-a-small-fortune/#comments</comments>
		<pubDate>Mon, 04 Aug 2008 21:37:48 +0000</pubDate>
		<dc:creator>John Paczkowski</dc:creator>
				<category><![CDATA[Digital Daily]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[John Paczkowski]]></category>
		<category><![CDATA[common stock]]></category>
		<category><![CDATA[IPO]]></category>
		<category><![CDATA[liquidity event]]></category>
		<category><![CDATA[Mark Zuckerberg]]></category>
		<category><![CDATA[preferred stock]]></category>
		<category><![CDATA[valuation]]></category>
		<category><![CDATA[vested shares]]></category>

		<guid isPermaLink="false">http://digitaldaily.allthingsd.com/?p=2953</guid>
		<description><![CDATA[So much for “growth over profits,” or should I say “growth over as-of-yet-unrevealed meaningful profits”? Word on the street has it that Facebook is considering a program that would allow employees to sell up to 20 percent of their vested shares.]]></description>
			<content:encoded><![CDATA[<p>So much for &#8220;growth over profits,&#8221; or should I say &#8220;growth over as-of-yet-unrevealed meaningful profits&#8221;? Word on the street has it that Facebook is considering a program that would<a href="http://venturebeat.com/2008/08/04/facebook-to-let-employees-sell-some-stock-options-at-internal-4-billion-valuation/"> allow employees to sell up to 20 percent of their vested shares</a>. At a presumed company valuation of $4 billion&#8211;this is common stock, not preferred stock, which presumes a value of $15 billion&#8211;those shares could become<a href="http://www.alleyinsider.com/2008/8/is-facebook-letting-employees-cash-out-"> a nice bonus for employees who choose to sell them</a>. And given the absence of certain future &#8220;liquidity events&#8221; in which Facebook professes to have no interest, it&#8217;s an easy way for the company to hang on to early hires who may be losing patience waiting for an IPO.</p>
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