Chan Zuckerberg Initiative

Zuckerberg Sells $500 Million of Facebook Shares in February

5Mar By Sheldan RungasamyNo Comments

USA

Zuckerberg Sells $500 Million of Facebook Shares in February

Fully committed to his philanthropy work for the Chan Zuckerberg Initiative (CZI), Mark Zuckerberg sold about $500 million worth of Facebook stock in the shortest month of the calendar, according to SEC filings. This rather odd move however does not come as a surprise as Zuckerberg made his intentions public in September 2017. Mark Zuckerberg’s stock exit comes with a plan. Indeed, he wishes to transfer his Facebook fortune to his philanthropy work for the Chan Zuckerberg Initiative. Two security filings revealed that Zuckerberg sold 685,000 shares worth 125.4 million in the last few days of February. This takes his total sales of the month to about 2.7 million shares worth $482.2 million. These sales are the next step in a process Mark laid out in September to fund the Chan Zucke...

Zuckerberg Withdraws No-Vote Stock Plan, Will Sell His Personal Shares

Zuckerberg recently in his facebook post shared that the board has agreed to withdraw their plans to issue Class C no-vote stock and has resolved the shareholder lawsuit seeking to block the corporate governance overhaul. (more…)

Member of World Bank Group Invested in India’s Online Education Startup BYJU’s

IFC, a member of the World Bank Group, today said it has invested $15 million in online education startup BYJU's. This partnership will enable BYJU's to further their plans to make quality education accessible for students across the nation as well as in international markets, International Finance Corporation (IFC) said in a statement. In September, BYJU's had raised USD 50 million from a clutch of investors, led by Chan Zuckerberg Initiative (CZI) and Sequoia Capital. BYJU's has also raised USD 9 million from Aarin Capital in 2013, followed by Series B funding of USD 25 million from Sequoia Capital last year and a USD 75 million fund raise from Sequoia Capital and Sofina earlier this year. "The investment from IFC recognises our commitment to create world-class learning programs th...