In 2003, Eduardo Saverin gave Zuckerberg $15k for a 30% stake in a startup.
That startup is now called Meta. While Saverin was diluted, he is still worth $18B (that 12,000x return is the best investment ever).
LESSON: If your college buddies want to bum money, give it to them.
That startup is now called Meta. While Saverin was diluted, he is still worth $18B (that 12,000x return is the best investment ever).
LESSON: If your college buddies want to bum money, give it to them.
The OG deal: 30% in exchange for 15k into a bank account to pay for “servers”.
Zuck teamed with Saverin cause his family had money (per Zuck: “apparently insider trading isn’t illegal in Brazil.”
businessinsider.com
Zuck teamed with Saverin cause his family had money (per Zuck: “apparently insider trading isn’t illegal in Brazil.”
businessinsider.com
Other interesting detail, the company was originally incorporated in Florida (Saverin family lived in Miami).
Re-incorporating in Delaware is part of how Zuck diluted Saverin below 10% (plot of “The Social Network”)
Re-incorporating in Delaware is part of how Zuck diluted Saverin below 10% (plot of “The Social Network”)
Anyways, follow @TrungTPhan for more random business history
Last note: by Facebook’s 2012 IPO, Saverin had <2% of the company
forbes.com
forbes.com
😂😂😂😂
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