Update:<\/b><\/p>\n
Glad I added all those sarcastic caveats to my description of Valleywag below — it seems someone at Facebook played Owen Thomas like a fiddle, and the rumour about Zuckerberg cashing in isn’t true. Owen’s attempt to talk his way out of having been played is here.<\/a> I still think it would be a smart thing to do though, even if it isn’t actually happening.<\/p>\n Original post:<\/b><\/p>\n According to the scrupulously honest and eminently reliable folks at Valleywag, young Mark Zuckerberg has taken an early cash-out<\/a> from Facebook, by selling some of his stock in the company’s latest financing round. The gossip site says he picked up a not-too-shabby $40-million as part of the deal with Microsoft.<\/p>\n As Valleywag’s Owen Thomas notes, this isn’t how VC financing typically works. And it’s not how founders of startups typically work either — many hang on long after they could have maximized their return, either because they aren’t allowed to sell any shares or because they don’t want to<\/a> make it look like they are losing faith. <\/p>\n But why shouldn’t Zuckerberg get a little something for his effort — and take advantage of the market’s valuation frenzy? He still maintains a huge stake in the company. I think it’s a smart move. <\/p>\n