We start Thanksgiving week with a story that lifts the spirit – Google execs and investors are cashing in their first shares from the IPO of the highly prized search engine company. The WSJ reports that lead investor Kleiner Perkins “which invested less than $15 million in Google in 1999, this past Tuesday handed out 5.4 million Google shares — valued at $932 million…”.
Leave some cookies and a Rolex for Santa
The same aritcle reports that “Google’s co-founders and chief executive disclosed plans to sell a total of 16.6 million shares, valued at $2.8 billion, over the next 18 months.”
Given that the markets have been moving sideways for the last few years, it feels good to enter the holiday season partying like it’s 1999.
Google’s Backers, Executives Cash In – [WSJ.com – reg. req.]