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May 17, 2012, 04.32 AM IST
FACEBOOK-RICHES:FACTBOX: Facebook's IPO: who gets rich?
By Poornima Gupta and Gerry Shih SAN FRANCISCO (Reuters) - The rich are going to get richer when Silicon Valley's biggest IPO starts trading on Friday. Facebook this week raised the number of shares it intends to float by 25 percent to 421 million shares, and lifted the target price range to $34-$38 per share as investors clamored for a slice of the third-largest IPO in U.S. history. As a result, the No. 1 social network and its shareholders will now collectively reap more than $15 billion from the initial public offering - a $5 billion hike from early May, when Facebook sought an IPO of roughly $11 billion. The company itself will not float extra stock, Facebook said in a Wednesday filing with the U.S. Securities and Exchange Commission. But early investors like venture capital firm Accel Partners; Tiger Global Management, the hedge fund; Goldman Sachs The largest seller remains Accel Partners, which will make almost $1.77 billion if the shares sell at $36, the mid-point of its indicative price range. Milner's Digital Sky Technologies Global Ltd will unload an additional 19 million shares, bringing the value of its sale to more than $1.6 billion. Mail.ru And Goldman is more than doubling the number of shares it is selling, from 13.2 million to 28.7 million. The new sale amount will bring the bank more than $1 billion. Those holding onto their stakes for now include: Napster co-founder and Facebook founding president Sean Parker; co-founder and Zuckerberg's Harvard roommate Dustin Moskovitz; various Facebook executives; and venture capital firm Andreessen Horowitz. Zuckerberg, who started Facebook in 2004 from his Harvard dorm room, is selling shares worth a little over $1 billion. Mark Pincus, co-founder of the gaming company Zynga Inc Assuming a mid-point price of $36, following are details on the amount the selling stockholders will make: Accel Partners total $1.77 billion Digital Sky $1.6 billion Technologies Mark Zuckerberg $1.08 billion Goldman Sachs $1.03 billion Tiger Global Management $842.7 million MAIL.RU $706 million Peter Thiel $606 million Meritech Capital $252 million Greylock Partners $274 million Microsoft Corp $236 million Elevation Partners $166.4 million Mark Pincus $36.3 million Reid Hoffman and family $34 million (Reporting By Poornima Gupta and Gerry Shih; Editing by Richard Chang)
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