victor,
Since you're trying to give details, let's be accurate about the involvement of Vulcan Ventures in NETP. They were an investor in the second and third rounds of funding. VV bought 1,932,368 Series B shares for $1.035 each (second round) and 407,168 Series C shares for $1.535 each (third round), not for 25 cents each as you claim.
When NETP went public, these were converted, 1 for 1, into ordinary shares and VV held 2,339,536 shares. VV liquidated over 1.13 million shares in 1999 and held 1,203,486 shares at the start of this year.
Since then they've continued to sell at regular intervals.
BTW, what I find more interesting is that Steve Snyder sold almost 200,000 shares (about 10% of holdings) in March at $42 apiece. It's nice to take $8,000,000 off the table <vbg>. He still holds over 1.7 million shares.
All of this information is publicly available to those who want to do their own homework.
FYI, I'm long NETP, having bought in at $30 last Nov. Sold half the position at $48 in Jan. Holding the rest.
- Marq. |
