Facebook does not want to make the value of their stock any lower so they have cancelled their secondary offering. They will instead pay for taxes on its restricted stock units with cash as evidenced by an 8-K that they filed with the SEC today. Facebook CEO Mark Zuckerberg has informed that the SEC he does not have any plans to sell his stock in the next year. Facebook board members Marc Andreessen and Don Graham said that they will sell some of their stock to cover taxes, but beyond that they do not have any present “intention to sell any shares.”
Mark Zuckerberg Posts
About 3 days ago, I received an e-mail from Pradeep Manukonda (below) because he read my August 29th article about how he filed a defamation lawsuit against Mark Zuckerberg in India. Zuckerberg received a restraining order against Pradeep Manukonda last year after the 31-year-old Indian man allegedly sent Zuckerberg online messages, sent him flowers, and even showed up at Zuckerberg’s home.
The first time I wrote about Pradeep Manukonda in February 2011, it was because Mark Zuckerberg filed a restraining order against him. Zuckerberg filed legal papers saying that Manukonda tried to follow, surveil, and contact him using language that had threatened his personal safety.
In the past weekend, Facebook CEO Mark Zuckerberg “liked” and wrote a status message about iGrill. After getting an endorsement from Mark Zuckerberg, iGrill’s website got so much traffic that their website went down. I would not be surprised if sales of iGrill shot up too. “I updated my grilling app, iGrill, today and it now has Facebook integration that lets you see what other people are grilling right now around the world. Awesome. I’m making a Fred’s steak,” said Zuckerberg. iGrill is a wireless thermometer and application that ensures that your meat is at the best temperature. iGrill recently added Facebook integration, which allows you to see a map of other people that are grilling. iGrill’s Bluetooth thermometer can stretch around 200 feet and the app has a kitchen timer, time remaining, etc. [BusinessInsider]
Facebook CEO Mark Zuckerberg has acknowledged that the company’s stock has been painful to watch. Zuckerberg talked about the stock during a company-wide meeting earlier this month according to the Wall Street Journal. Facebook is working on a larger initiative to improve company morale. Previously Zuckerberg avoided talking about the stock since the IPO and wanted people to focus on work. However Facebook senior management has started to worry that the stock’s poor performance is hurting employee performance. Zuckerberg even joked about firing Facebook CFO, David Ebersman during the meeting. However he quickly followed up by saying that Ebersman and the deals team “did a great job.”
It is very common for tech CEOs to travel by jet. Earlier today Pulse2 wrote about how Michael Dell’s daughter posted a photo on Instagram of their private jet travels and last year Pulse2 wrote about how Google’s co-founders offered to pay NASA $33 million for a hangar to cover 8 private jets.
Bob Fitzgerald is an Olympics announcer that said “I know I’m gonna put that picture on Facebook. We’ve got every executive of note, it seems worldwide, attending these games” during a telecast of the men’s basketball gold medal came. He said this when the camera cut to Jesse Eisenberg. Fitzgerald mistook Eisenberg of being Facebook co-founder and CEO Mark Zuckerberg. To his credit, Eisenberg resembled Zuckerberg enough to land himself the role of Mark Zuckerberg in “The Social Network” movie. Check out the video below:
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Earlier this week App.net founder Dalton Caldwell wrote an open letter to Mark Zuckerberg. Facebook wanted to buy out his company and threatened him to take it. Facebook was planning to launch the Facebook App Center at the time and indicated that if he did not take the offer, he would feel the full force of competition from the social network.