Facebook上市前的內(nèi)部拋售不足為慮
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????第三，谷歌高管中至少有五人在上市時(shí)出售了股份，他們是：首席執(zhí)行官埃里克?施密特，聯(lián)合創(chuàng)始人謝爾蓋?布林和拉里?佩奇，銷售總裁奧米德?柯德斯塔尼和技術(shù)總監(jiān)韋恩?羅欣。而Facebook的高管中，除了馬克?扎克伯格，沒(méi)人計(jì)劃在公司上市時(shí)出售股份。 ????實(shí)際上，F(xiàn)acebook和谷歌之間唯一的類似之處在于，它們之所以上市，都是拜一條古老的聯(lián)邦法例所賜，也就是所謂的“500股東法案”（500 shareholder rule）。它實(shí)在是有年頭了，直到上個(gè)月才把股東人數(shù)的要求提高到2,000名（但對(duì)Facebook來(lái)說(shuō)，這個(gè)調(diào)整姍姍來(lái)遲，它已沒(méi)法再改弦易轍了）。 ????這件事為什么至關(guān)重要？因?yàn)樗茏C明多數(shù)人所持的想法有誤，也就是認(rèn)為這兩家公司之所以上市，是因?yàn)樗鼈兊氖兄狄呀?jīng)達(dá)到了峰值。而如果Facebook的內(nèi)部人真信這一套，他們?yōu)槭裁催€攥著股份不放呢（更別提他們還留著大部分股份）？或者，為什么過(guò)去這幾年他們不在二級(jí)市場(chǎng)多賣掉些股票呢，這樣他們能賺到的前和上市時(shí)賺到的錢也差不多？ ????說(shuō)到底，這并不是說(shuō)Facebook值不值800億或1,000億美元。我只是說(shuō)，如果你認(rèn)為股價(jià)合適，那就別被這些有關(guān)內(nèi)部人拋售股票的夸大其詞的傳言給嚇跑了。 ????譯者：清遠(yuǎn) |
???Third, at least five senior members of Google management sold shares at IPO: CEO Eric Schmidt, co-founders Sergey Brin and Larry Page, sales chief Omid Kordestani and head of engineering Wayne Rossing. By contrast, no senior Facebook exec except for CEO Mark Zuckerberg is offering shares at IPO. ????In fact, the only relevant similarity between Facebook and Google here is that they both went public due to an archaic federal regulation known as the "500 shareholder rule." So archaic, in fact, that it was expanded to 2,000 just last month (not quite soon enough for Facebook to reverse course). ????Why does this matter? Because it belies the notion that either company went public at what they believed to be "peak Facebook" or "peak Google." And if the company's insiders believed that to be the case, why hold onto any shares at all (let alone most of their shares)? Or why not sell more of them on the secondary markets over the past couple of years, when they could get similar value to the IPO price? ????To be clear, this isn't to say that Facebook does, or doesn't, reserve an $80 billion valuation. Or a $100 billion valuation. It's simply to say that if you believe the price is right, don't be scared off by overblown tales of insider sales. |
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