August 23, 2012

Co-founder sells 'tiny chunk' of Facebook shares

The Associated Press

NEW YORK - Facebook co-founder Dustin Moskovitz shed 450,000 shares of Facebook in the past few days for proceeds of about $9 million -- a tiny chunk of his total stake.

Moskovitz was Mark Zuckerberg's Harvard roommate when they founded Facebook in 2004. He disclosed in a regulatory filing late Tuesday that he sold the shares on Friday, Monday and Tuesday in blocks of 150,000.

He sold the shares for $18.79 to $20.08 each.

Moskovitz, 28, left Facebook in 2008 and started Asana, whose software helps manage projects.

He did not sell any stock in Facebook's IPO. He still owns more than 133 million shares. Based on the filing, he could sell 7 million more shares he converted from Class B to Class A.

 

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