5 ms·
Jack Dorsey only own 4.9% and Christopher Isaac "Biz" Stone own less than 1%, they got diluted pretty bad.
by negrit 13y ago
Jack Dorsey only own 4.9% and Christopher Isaac "Biz" Stone own less than 1%, they got diluted pretty bad.
- chollida1 13y agoSee here to see just how much funding they've taken. > http://en.wikipedia.org/wiki/Twitter#Funding http://en.wikipedia.org/wiki/Twitter#Funding
- deleted 13y ago[deleted]
- mikeryan 13y agoIts not necessarily just dilution. If you've got a wildly popular but not-profitable startup you'd take money off the table at every funding round as well....
- colmvp 13y agoNaive question, but how is such a large disparity between the number of shares that Williams has over Dorsey considering they're both Co-Founders?
- bitops 13y agoWhoever has the best lawyer?
- saalweachter 13y agoIn addition to the guess of someone else (one founder could have cashed out more or less during different funding rounds), it's also possible that one founder was an investor in subsequent rounds.
- mbell 13y agoThe founding of Twitter was a bit of a mess. This is just my understanding of it, is most likely at least partially wrong and is certainly missing details: Williams and Noah Glass founded Odeo which did podcasting, Williams was the CEO and the initial $. Dorsey / Stone worked for Odeo. When iTunes added podcasting, the writing was on the wall for Odeo. A small group inside Odeo started working on other ideas, one of which was twitter. This group was (depending on who you ask) Glass, Dorsey and a contractor, Florian Weber. After getting the soft public release up, Glass wanted to spin out twitter as a separate company. Then some unknown stuff happened, Williams fired Glass, founded a new company called Obvious Corp with Dorsey, Stone and some others. Obvious Corp (Williams' $) bought out the investors of Odeo, thus acquiring all it's assets, including twitter then spun out twitter and sold off the assets of Odeo to a third party. Interesting interview with Noah Glass here: http://www.businessinsider.com/twitter-cofounder-noah-glass-2011-4 http://www.businessinsider.com/twitter-cofounder-noah-glass-...
- mapgrep 13y agoBecause Williams funded the company out of his own pocket using proceeds from the Blogger sale (or more precisely proceeds from Google's IPO, since that sale was for shares). There were other investors, sure, but not too many after he cashed out the Odeo investors (some insisted on staying in, but many took their money). Dorsey, by contrast, was hired help - an Odeo/Obvious employee and then Twitter CEO (and then ousted ex CEO).
- mikeyouse 13y agoAt a $15B valuation, Dorsey's measily 4.9% is still worth over $700mm.. A 0.5% stake would be worth $75mm.. There are worse problems to have.