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.