Google’s SEC filing on February 7th, 2007, finally revealed the breakdown of profits shared by YouTube’s investors after the sale of the company to Google for $1.65 billion in stock in late 2006.
The largest profits went to YouTube’s three founders and Sequoia Capital, the principal financier of the internet’s number one video-sharing site.
The NY Times reported that founder and YouTube’s chief executive Chad Hurley received 694,087 shares of Google and an additional 41,232 in a trust. Based on Google’s closing price yesterday of $470.01, the shares are worth more than $345 million.
Another founder, Steven Chen, received 625,366 shares and an additional 68,721 in a trust, for more than $326 million.
The third founder of YouTube, Jawed Karim, who left the company early on to pursue a graduate degree in computer science, received 137,443 shares worth more than $64 million.
Sequoia Capital XI, the Sequoia fund that invested close to $11.5 million in YouTube from November 2005 to April 2006, was listed as having 941,027 shares, which are valued at more than $442 million.
Source: SECinfo.com
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