Google Founders Split $650M Payday
Two of YouTube's founders stand to divide shares of stock now valued at around $650 million, Web search leader Google Inc. said in a regulatory filing Wednesday detailing the payout from its $1.65 billion acquisition.
Chad Hurley received 694,087 of Google common stock worth around $326 million and Steve Chen received Google common stock valued at a similar amount, including 625,366 shares directly owned and another 68,721 shares held in a trust.
Sequoia Capital, the sole venture capital backer of YouTube, stands to receive around $442 million in Google shares based on the $470.01 closing price of the Web search leader Wednesday.
At least two dozen YouTube employees received lesser share amounts. For example, Julie Supan, YouTube's principal spokeswoman, received 10,308 shares worth around $4.8 million.
Most of the remaining shares were divided up among dozens of limited partner investors in Sequoia Capital.
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