Re:Google Walks Away From Digg Deal
by obelix on Saturday July 26, 2008 @09:53AM
(#257532)
Man, I really wish Jay Adelson gets his big pay day soon. [And Sean Parker too].
[ Parent
| on HN ]
Jay Adelson founded Equinix: http://en.wikipedia.org/wiki/Equinix. It doesn't seem like he'd be hurting for cash.
Equinix went through a 32:1 reverse stock split. The founders pretty much got wiped out of its stock.
http://sec.edgar-online.com/2003/05/15/0001012870-03-002591/...
In his own words:
"Well, to clarify, I still provide consulting to Equinix. As for the money I made from that venture, suffice to say the reverse split nuked my founder's wealth for morbid. There was enough to secure my kids' college education (if they need money from me, who knows), and enough to buy me a new minivan. Anything left is for my parents who deserve every penny. I never said I had a desire to be a VC..."