Sign in to follow this  
Followers 0
Thirteen

How to turn $18K into $20MM

1 post in this topic

Win 100,000 shares in a company and then have them bought by Walmart

 

http://finance.yahoo.com/news/pennsylvania-guy-probably-just-got-220625808.html

 

 


Wal-Mart's $3.3 billion acquisition of e-commerce company Jet.com was potentially a flush exit for early employees and its familiar big-name investors like Goldman Sachs, Bain Capital and Fidelity. But it was also a probably huge windfall for 10 people who — like Pennsylvania's Eric Martin — won significant equity in the company.

 

Martin won 100,000 insider stock options in Jet.com last year as part of a contest aimed to get users to refer the most family and friends to the membership-based site. That means he'll likely get some sort of slice of Jet's $3.3 billion price tag, along with nine other contest winners, who each got 10,000 insider stock options.

 

It's a nice surprise for a family man who spent about $18,000 to refer about 8,000 customers to Jet in early 2015, surpassing more than 200,000 other contestants for the prize. Martin said he can't disclose the value of his shares, and he doesn't know how the Wal-Mart deal will pay out for him. (The terms of the deal weren't publicly disclosed.)

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0