Monday, November 22, 2004

WSJ.com - Google's Backers, Executives Cash In

WSJ.com - Google's Backers, Executives Cash In: "Shares of Web-search titan Google Inc. have nearly doubled since its August initial public offering of stock. And now Google's biggest backers are seriously cashing in.
Venture-capital firm Kleiner Perkins Caufield & Byers, which invested less than $15 million in Google in 1999, this past Tuesday handed out 5.4 million Google shares -- valued at $932 million at Tuesday's close -- to investors in one of its funds, according to people familiar with the matter.
Then, on Friday, 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. On Thursday, two vice presidents reported selling a combined 55,000 shares, for roughly $9.5 million."
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