EVEN MORE: well, you are right -- I *am* disappointed:)...
Delia
P.S. may I remind you that in 2004 when ebay acquired 28.4% of craigslist according to their most recent press release and only 25% according to craigslist/Craig, craigslist employees did NOT have stock options (the "stock incentives plan")? -- according to the footnote at the bottom of page two of ebay's complaint, stock options were given to employees ONLY in 2005, a year *after* ebay's purchase... this diluted eBay’s share to 25.01%, in a "fully diluted" form (if all outstanding options were exercised)
ebay did nothing about this dilution, the law suit was prompted by subsequent further dilution to under 25% apparently as a result of Craig& Jim issuing more shares to *themselves*...
So... the contradiction remains...
P.P. S. thanks for telling me what you thought, though... take care! D.
MORE: please read the comments to this entry!
...
Hi Anonymous! (1st comment)
you better know what you are talking about:) because I'm going to hold you to your end of the bargain... anyways, I can certainly tell you what got me to start this blog if you are curious -- hate to disappoint you but it wasn't anything Craig did or didn't do to me... *lol*... He just kept bullshitting all sorts of people that should have known better and getting away with it... (as far as I could see...) I thought putting down what I was seeing was going to be interesting and entertaining... and it was... (for the most part...)
Delia
P.S. your turn!:) D.
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3 comments:
well that's disappointing - i was hoping for some juicy gossip.
i think you'll be equally disappointed by my answer:
let's make up some numbers. say that Craig has 2850 shares of craigslist, and ebay has 1625 shares, and that third guy has 1225 shares, and the employees have 800 options. (the key thing to note is that the employees have OPTIONS, not SHARES.)
i've chosen these numbers so that the math works.
so ebay has 1625 / (1625 + 1225 + 2850) = 28.5% of all the shares that have BEEN ISSUED.
but it has 1625 / (1625 + 1225 + 2850 + 800) = 25% of all the shares that are OUTSTANDING.
when talking about "ownership" of a company, if you don't explicitly state whether your talking about ISSUED or OUTSTANDING shares, you may substitute whichever makes most sense in the context.
which is sorta like when i say my car gets 30 miles to the gallon.
technically it gets 30 mpg on the highway and 28 in the city.
if it were highly pertinent to the discussion, i'd make sure to specify exactly what i mean. if i'm just talking informally, it's no big deal.
answered in the body of the entry... D.
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