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December 13, 2011 11:35 am GMT
People are leaving Twitterexecutives, engineersthis happens at large companies with more than 700 employees. We notice, as does every other tech blog. Nicholas Carlson at Business Insider put forth a some theories based on a single interview with a former employee that range from the engineers not being rockstar enough to jealousy over a party in Las Vegas to which only some employees were invited.But there is a much simpler explanation. Twitter is very restrictive about when employees can sell shares. It just completed an $800 million financing round in September, half of which went to employees selling up to 20 percent of their shares. While that did serve as a release valve, the offering is over. If you are a longtime Twitter employee sitting on a bunch of fully-vested shares that you want to unload, your best bet might be to quit and try to sell them on private secondary markets. Twitter has less control over what former employees can do with their shares.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/IxuZtVoOJWo/
The Real Reason Twitter Employees Are LeavingSo They Can Sell Their Stock
People are leaving Twitterexecutives, engineersthis happens at large companies with more than 700 employees. We notice, as does every other tech blog. Nicholas Carlson at Business Insider put forth a some theories based on a single interview with a former employee that range from the engineers not being rockstar enough to jealousy over a party in Las Vegas to which only some employees were invited.But there is a much simpler explanation. Twitter is very restrictive about when employees can sell shares. It just completed an $800 million financing round in September, half of which went to employees selling up to 20 percent of their shares. While that did serve as a release valve, the offering is over. If you are a longtime Twitter employee sitting on a bunch of fully-vested shares that you want to unload, your best bet might be to quit and try to sell them on private secondary markets. Twitter has less control over what former employees can do with their shares. Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/IxuZtVoOJWo/
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