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The Facebook Twins Make "Bank"
With Wednesday’s filing of Facebook’s much-blabbered-about IPO, the dual Winklevoss thorns in Mark Zuckerberg’s side are again in the headlines.
The $65 million settlement in cash and stock they were awarded in June 2011 is about ready to do the IPO blossom—to somewhere in the neighborhood of $300 million, according to AllThingsD.
Considering the twins have done absolutely nothing for Facebook since its founding in 2004, that’s not a bad take, but depending on the version of history you believe, the Olympic rowing team brothers may have actually had the original idea for the social-networking megalith with their launch of ConnectU, a now defunct social network at Facebook founder Mark Zuckerberg's Harvard University alma mater.
And if it is the case that the brothers originated the idea, and if Facebook does go public with a $100 billion valuation, their three-thousandths of a percent cut will likely only lead to more whining.
Though, to be fair, Cameron Winklevoss did Tweet his congratulations to Facebook and all involved for what he calls an “amazing accomplishment.”
Maybe this story is about to end after all.
Michael del Castillo is a freelance reporter for Portfolio.com.
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