Elevation Buys More Facebook Stock -- Helping Employees Take Cash off the Table?
Technology-focused private equity firm Elevation Partners has bought 5 million stock shares from Facebook for $120 million, according to a recent letter it sent to limited partners, obtained by TechCrunch. The amount follows Elevation’s reported purchase of 2.5 million Facebook shares for around $90 million last fall.
The numbers suggest a decrease in the value of Facebook’s shares, a confusing (and likely inaccurate) result of Elevation’s complex deal-making.
Facebook is on track to make more than $1 billion this year, as we’ve projected and as the company
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in