Youtube founders cash out of Google
8 02 2007Update: The Google SEC filing and registration of the Youtube equity beneficiaries can be seen here (see page 5 onwards). Apologize for the sensationalistic title. Its not really a “cashout per se” but a “registration for (potential) resale”.
From Reuters, this is breaking news from Web 2.0 Central in Silicon Valley.
Two of YouTube’s founders stand to divide shares of stock now valued at around $650 million, Web search leader Google Inc. said in a regulatory filing on Wednesday… Chad Hurley, chief executive of the online video sharing phenomenon YouTube, received 694,087 of Google common stock worth around $326 million, according to the U.S. Securities and Exchange Commission filing.
Steve Chen gets a similar amount of $300M+.
Jawad Karim, the 3rd co-founder walks away with $64 million.
Sequoia Capital (VC Backers) - $442 million.
Julie Supan (YouTube’s principal spokeswoman) - $4.8 million. (Note to self: become a spokesman)
And the winner is… Sequoia!
These numbers baffle me. :p
Great. This is a great reward for them. This is another win-win strategy by Google Mastermind.