Google Inc Director Sells 59,900 Shares!

Jun 8, 2007 | 2,839 views | by Navneet Kaushal
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In a mind-boggling report, Canadian Business online informs that Google Inc Director and Silicon Valley venture capitalist John L. Doerr sold 59,900 shares of common for $30 million on Friday.

The news broke out on Tuesday in a Form 4 of a Securities and Exchange Commission filing where it was declared by John L. Doerr that he sold the shares for $498.40 to $504 per unit. John L. Doerr's company Kleiner Perkins Caufield & Byers was one of the first companies to invest in Google ($14.2 million) besides also investing in Netscape, Amazon etc.

"Doerr sold the shares for an average price of $500.90, though the selling price varied from $498.40 to $504. Google shares, which are up about 11% this year, rose $11.77, or 2.3%, to close at $518.84 Tuesday. The stock slipped $1.77 to $517.07 in trading Wednesday on the Nasdaq Stock Market."

Another Securities and Exchange Commission filing reports that Omid Kordestani, Google Inc's Senior Vice President too sold 6,000 shares of Google common stock for about $3 million on Friday.

4.thumbnail Google Inc Director Sells 59,900 Shares!

Navneet Kaushal

Navneet Kaushal is the founder and CEO of PageTraffic, an SEO Agency in India with offices in Chicago, Mumbai and London. A leading search strategist, Navneet helps clients maintain an edge in search engines and the online media. Navneet's expertise has established PageTraffic as one of the most awarded and successful search marketing agencies.
4.thumbnail Google Inc Director Sells 59,900 Shares!
4.thumbnail Google Inc Director Sells 59,900 Shares!