There were four founders. The initial split has not been disclosed but should be available in the prospectus. At the time of the IPO the founders’ shares were:
- Evan Williams 10%: (left 2010)
- Jack Dorsey 4%; (left 2008)
- Biz Stone 10 millions shares; (left 2011)
- Noak Glass no shares; (left 2006).
Biz Stone sold shares recently.
The pictures in the papers featured the first three but Noak Glass was not seen. It must have been amazing to watch your wealth double in minutes and know that many of your team who had worked so hard to build Twitter would also have enjoyed the same satisfaction.
To sell or not to sell is not easy. There are a number of people in Cambridge who floated companies and thought they should not sell any shares and then watched as their gains disappeared. It is quite amazing how few companies are sold in Cambridge, UK, when the Stock Market is booming. As my co-founder said in 1987 – “It is the best time ever to sell and business” and “We could work (and our team) for another ten years and not be as well off”.
How did she know? Guess that is what marks out the great entrepreneurs – timing, their ability to bring everyone together and to close a deal. Happy days but such intense work. It is not the hours or hard work – lots of people do that all their life; it is the intensity of continually striving to be better each and every day. I did it once. Ever again? I wish but doubt it.