IPO turns graffiti mural into a $200 million payday
sign outside the Facebook headquarters (not by David Choe) welcomes
The graffiti artist worked on Facebook’s old HQ back in 2005.
the artist commissioned to paint a mural in Facebook HQ in 2005, is
become a very rich man indeed – all thanks to some graffiti murals and
if you can get it.
the artist David Choe was hired to paint some murals in Facebook HQ.
then a young and scrappy social network, offered Choe a choice of two
payment: cash or Facebook stock. In an interview with the New York
week, Choe recalled that he eventually decided on the stock option,
figured his choice was “ridiculous and pointless.” Fast forward a few
and Choe is poised to become a multimillionaire.
to the Times, assuming Choe hasn’t otherwise unloaded the stock, his
shares will be worth approximately $200 million when Facebook goes
this year. (On Wednesday, Facebook filed S-1 papers with the US
Exchange Commission, a move that brings the social network, which could
valued at $100 billion, one step closer to its long awaited IPO.)
his part, seems to be handling the news pretty well. In a
not-appropriate-for-children post on his personal blog, Choe said the
thing was “very very similar to another dream I have where I wake up at
my phone ringing, and the ringtone is butterfly wings, I pick it up and
Howard Stern, the view, Ellen, Charlie Rose, Telemundo and every news
went on to call himself “the most highest-paid decorator alive.”
know who else the Facebook IPO will benefit, aside from Choe and the
brass? Social gaming juggernaut Zynga, which saw its shares soar in
trading yesterday. According to the S-1 papers filed by Facebook, a
percent of Facebook’s revenue last year came from Zynga games –
$445 million, by one estimation.
a peek inside the Facebook filing papers shows that the social
will likely create literally hundreds of millionaires.
and other articles at the Christian Science Monitor