According to Bloomberg, YouTube founders Chad Hurley and Steve Chen have registered to sell 3.23 million shares. Another Founder Jawed Karim has also registered to sell shares worth $64.6 million. Google has filed with the U.S. Securities and Exchange Commission for the sell offs. The prevailing value of the shares that each founder is selling is around $326.2 million.
However, the founders are not alone. YouTube's largest investor Sequoia Capital has also been predicted to sell shares worth $504.4 million. The list of investors who stand to benefit from the takeover of YouTube are:
Artis Capital Management LLC, a hedge fund, may sell Google stock worth about $83 million. Brown University, Dartmouth College, the Ford Foundation, J. Paul Getty Trust and Oxford University Fund L.P. are among more than 100 investors that will benefit through Sequoia Capital's investment.
As per employees, they will have to wait until their shares are eligible for sale. Google will have to pay registration fees for the shares amounting to $333,337.
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