back to article Twitter cofounder to sell chunk of his stock for personal reasons

Ev Williams, the cofounder of Twitter and Medium, has revealed that he'll be selling a large chunk of his stock in the microblogging site to fund other activities. There's nothing wrong with Twitter that prompted the selloff, he insisted, and indeed praised recent changes the firm has made. But the vast majority of his net …

  1. Youngone Silver badge

    Value?

    On the one hand I am amazed Twitter shares are worth as much as $14, but on the other somebody tried to convince world+dog that they were worth $69 at some point.

    I am going to assume that the "personal reasons" he's selling are that he likes being rich and so is going to carry on doing that.

    1. Roq D. Kasba

      Re: Value?

      $14 or $69 for a company that doesn't make any money really shows that stock market variations are pure bollocks. "These $1 sandwiches cost us $1.01 each to make, but we'll make it up with volume"

      So yes, I'm sure his personal reasons include "fuck, we still can't make money at this and I quite enjoy being rich before we are the next friendsreunited/MySpace"

      1. DougS Silver badge

        Re: Value?

        People said the same thing about Google and Facebook, but they figured out how to monetize their userbase by slinging ads at them in ways that weren't annoying enough to cause those users to leave.

        Twitter has yet to crack that particular problem, but apparently the market still has some faith (but not as much as they once did) that they will eventually do so.

        1. asdf Silver badge

          Re: Value?

          Weren't Google and Facebook both at least nominally profitable before IPO? Twitter seems to have an outsized cultural impact (says more about culture than Twitter but I digress) but still no business model.

          1. Anonymous Coward
            Anonymous Coward

            Re: Value?

            Facebook was making massive profits before IPO. It only went public because of US disclosure rules when number of shareholders exceeds 500.

  2. luminous

    "Ev Williams, the cofounder of Twitter and Medium, has revealed that he'll be selling a large chunk of his stock in the microblogging site to fund other activities."

    "After a year and a half of no selling, I have filed a new 10b5‑1 plan to liquidate a minority of my TWTR over the next year," he said on Medium."

    A large chunk or a minority of his stake... well, which is it? Or maybe you don't know but 'a large chunk' will get the keyboard warriors angry?

    $69 a share down to $14 a share... and they are still losing half a billion a year. The mind boggles, it really does...

    1. Richard 12 Silver badge

      Minority just means less than half. Could still be a big chunk, don't know or particularly care how many he had at the start of the year.

      Smart to liquidate when you can of course. Has Twitter ever made a profit?

      1. Jay 2

        I don't think so. I guess "needing more cash for wharever" is personal reasons. Anyway, isn't that the way of Web2.0 or whatever it calls itself? Create vaguely useful product (with no clear way of making cash), hype up to get investment/IPO, run away laughing with cash from sold stock before it hits the floor. No underpants or questionmark steps needed!

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