I really hope the story was real, it was borderline inspirational to hear a first hand account of receiving a LOI stating someone want's to give you $225mil for the fruits of your labor
dbond79 said: jkimcpa said: Anyone have any recommendations for low 7 figure windfall? Our even a low $7 windfall?
I received a mercury dime in my change at Walgreens today, should I make a new thread to figure out where I go from here (I was thinking I'd just head back to the office and finish up the work I need to do, but I"m really not sure anymore).
corporateclaw said: dbond79 said: jkimcpa said: Anyone have any recommendations for low 7 figure windfall? Our even a low $7 windfall?
I received a mercury dime in my change at Walgreens today, should I make a new thread to figure out where I go from here (I was thinking I'd just head back to the office and finish up the work I need to do, but I"m really not sure anymore).
You should go back to Walgreens and see if they have any more.
I haven't talked to him since he disappeared on here, but prior to that he told me the name of his company(I would say its definitely worth over $1 billion--at least you could more justify that then most valuations these days), his real name, some of the details of the deal, etc. Some of the things he asked about were so specific to someone in his situation that I find it hard to believe he could have even heard about them if he wasn't in the process of selling his company.
That said he did say he was going to send me over various materials for me to look over for a second opinion and never got around to it. In one instance the only email he 'sent' that didn't land in my inbox was BNY's proposal and then he said he would resend it and it never showed. I didn't really think much of it until SIS pointed out that he did something similar. All I can say is that if this was fake he could give James Frey a run for his money.
Also I occasionally google his company and look at the news and so far not a peep about a buyout or even a possible one.
dshibb said: I haven't talked to him since he disappeared on here, but prior to that he told me the name of his company(I would say its definitely worth over $1 billion--at least you could more justify that then most valuations these days), his real name, some of the details of the deal, etc. Some of the things he asked about were so specific to someone in his situation that I find it hard to believe he could have even heard about them if he wasn't in the process of selling his company.
That said he did say he was going to send me over various materials for me to look over for a second opinion and never got around to it. In one instance the only email he 'sent' that didn't land in my inbox was BNY's proposal and then he said he would resend it and it never showed. I didn't really think much of it until SIS pointed out that he did something similar. All I can say is that if this was fake he could give James Frey a run for his money.
Also I occasionally google his company and look at the news and so far not a peep about a buyout or even a possible one.Is he still listed on his company's website?
jkimcpa said: dshibb said: I haven't talked to him since he disappeared on here, but prior to that he told me the name of his company(I would say its definitely worth over $1 billion--at least you could more justify that then most valuations these days), his real name, some of the details of the deal, etc. Some of the things he asked about were so specific to someone in his situation that I find it hard to believe he could have even heard about them if he wasn't in the process of selling his company.
That said he did say he was going to send me over various materials for me to look over for a second opinion and never got around to it. In one instance the only email he 'sent' that didn't land in my inbox was BNY's proposal and then he said he would resend it and it never showed. I didn't really think much of it until SIS pointed out that he did something similar. All I can say is that if this was fake he could give James Frey a run for his money.
Also I occasionally google his company and look at the news and so far not a peep about a buyout or even a possible one.Is he still listed on his company's website?
I think it was instagram..the op posted probably when he only had the deal with twitter. Then he negotiated with fb to get the 1 billion deal.. Some of the incorrectness might be related to info of the twitter deal. After the fb deal the op intentionally left out the details. Posting on fw might have been a strategy for negotiation also or just some show off
Wanting to believe the story, it seems the simplest explanation is the OP lawyers told him to to immediately stop all communications concerning the deal. In any event, Dshibb knows the company and the person's name, if a deal is ever announced I am sure he will let us know.
I think the deal is already announced.. They all are just trying to side track intentionally to correct the mistake of disclosing information about a deal that was still being finalized and not public
jeeves said: xerty said: jkimcpa said: At what point would you renounce citizenship? Apparently 15% of $5B in capital gains was enough for this Facebook cofounder.
jeeves said: xerty said: jkimcpa said: At what point would you renounce citizenship? Apparently 15% of $5B in capital gains was enough for this Facebook cofounder.
"all property of a covered expatriate is deemed sold for its fair market value on the day before the expatriation date, which usually results in a capital gain, which is taxable income"
So it would seem renouncing citizenship would not save a penny now, and would only save you taxes on future appreciation of your assets.
jeeves said: xerty said: jkimcpa said: At what point would you renounce citizenship? Apparently 15% of $5B in capital gains was enough for this Facebook cofounder. http://www.chicagotribune.com/business/breaking/chi-facebook-cof...Does he not have to pay taxes on US assets anyway?He has to pay a US exit tax on the assets he had when he renounced his citizenship, which was last fall. So whatever the perceived value of the stock was back then is what he will pay. It is assumed that value will be significantly less than the IPO price, and for sure less than whatever the stock is going to close at after the IPO. When he eventually does sell the stock he will not pay any capital gaines since he lives in Singapore. One thing to note is he has been in Singapore for 4 years now, so it is not like it was a last second decision.
Mickie3 said: jeeves said: xerty said: jkimcpa said: At what point would you renounce citizenship? Apparently 15% of $5B in capital gains was enough for this Facebook cofounder.
Does he not have to pay taxes on US assets anyway?
He cannot retroactively renounce his citizenship and avoid taxes on what was previously owed, if that is what you are getting at.
Yes,that was what I was thinking.
The media seemed to indicate and sensationalize that he would walk off without having to pay any taxes- I was not sure if that was possible. He will not owe future taxes, which is very different from what is being reported.
Mickie - I am not ruling out that we've been trolled.
Al3xK - It seems jcarter told me and dshibb (per his claim, I have no confirmation) the name of his company.
Dshibb - I'd gladly corroborate with you, but I was told in confidence and, moreover, the company is in my portfolio. I will say that the size of the outcome OP indicates is a significant stretch from what I think the company *might* be worth to a strategic buyer. I could see a $100M - $250M price, but much more would be a surprise to me.
All - the only reason I'm still casually playing along is that I know one of the co-founders (not OP) and the company OP indicated is one where my employer has partial ownership, so I have a vested interest. When I recently visited one of the deal sponsors (VC syndicate), they gave no indication they were aware of sale process. And OP, before this visit but after he told me the company's name, said to me something along the lines of "I'll bet you'll go bragging that you knew about the deal before XXX Ventures did." That is consistent (not the bragging part - but the VC being unaware). But then again, all of this could be a very complex and sophisticated troll as Mickie points out. Either way, I'm in for the long haul because it involves a company I cover anyway.
Venturion said: And OP, before this visit but after he told me the company's name, said to me something along the lines of "I'll bet you'll go bragging that you knew about the deal before XXX Ventures did." Did he come up with "XXX Ventures" on his own as an investor in the company, or had you previously told him that was your path of involvement?
Venturion said: but I was told in confidence and, moreover, the company is in my portfolio. Didn't OP disappear about the same time you mentioned you had direct connections to the business in question? He may have bailed once he knew there was someone who could easily call his bluff?
But for your sake, I hope it's for real - I'd love to have a return on investment of 4-10x beyond what was already expected, even if it benefits (I assume) your employer not you directly.
jeeves said: xerty said: jkimcpa said: At what point would you renounce citizenship? Apparently 15% of $5B in capital gains was enough for this Facebook cofounder.
OP has a primary FW handle, an intimate knowledge around whatever company it may be, and VC to make a story creditable enough to be convincing.
How many FW users could pull off this rouse I wonder? This is just a wild guess, but Veneturion/DShibb are the only posters I've seen in the thread in this field. Wouldn't be a stretch if one of them was the troll.
Al3xK said: /Directed by M Night Shyamalan Lead me to Bryce
Glitch - thanks and yes, he may have gotten freaked when he realized I knew the company quite well. I did disclose to him that we were investors via a particular VC; so there's not much to be read into his comment. He did make some insightful comments about his co-founder that led me to believe he could be legitimate.
As Dshibb stated, the bio of the person OP claims to be remains live on the company's web site. [correction noted - thanks]
Al3xK said: OP has a primary FW handle, an intimate knowledge around whatever company it may be, and VC to make a story creditable enough to be convincing.
How many FW users could pull off this rouse I wonder? This is just a wild guess, but Veneturion/DShibb are the only posters I've seen in the thread in this field. Wouldn't be a stretch if one of them was the troll.
/Directed by M Night Shyamalan
I could see Venturion or DSHibb taking us for a roll, but I know they are not trolls - based on years of posting.
But as to the whole thing being a troll/scam/lie - I just don't understand why anybody would bother?? I have so little time during the day to just read the few threads on FW that are interesting to me, and occasionally responding - putting the wasted energy into something like making this all up is incomprehensible to me.
I'm relatively new to this thread but find it interesting. The thing that jumps out at me is that there are very strict and specific confidentiality obligations in place with acquisitions, so I think it's highly likely that OP initially posted while still in a state of shock and while not fully understanding the scope of his confidentiality obligations, and that he subsequently became aware that he wasn't permitted to discuss the deal with anyone (except legal advisors, accountants, etc.). Even if the deal has now closed, he would be foolish to come back and update with the name of the company, since this thread serves as clear evidence that he breached confidentiality early on.
Yeah I was just watching "Avatar: the Last Airbender" and when it was done I was like, "Wow, that was terrible!" And then the first credit to come up at the end was "Written and Directed by M. Night Shayamlan" and it just sort of explained it all.
minerva66 said: I'm relatively new to this thread but find it interesting. The thing that jumps out at me is that there are very strict and specific confidentiality obligations in place with acquisitions, so I think it's highly likely that OP initially posted while still in a state of shock and while not fully understanding the scope of his confidentiality obligations, and that he subsequently became aware that he wasn't permitted to discuss the deal with anyone (except legal advisors, accountants, etc.). Even if the deal has now closed, he would be foolish to come back and update with the name of the company, since this thread serves as clear evidence that he breached confidentiality early on.
But if that happened, he wouldn't have told Venturion, etc, a name of a different company that we know has not been sold from Venturion's comment. He would have told them "hey guys, I realized I really shouldn't post the name of the company since it would leave a trail that showed I breached confidentiality. I'm sure you can understand." And probably he would have posted the same here.
So at this point, the company he named to them is being sold but has been delayed beyond the initial schedule, and he has realized that he shouldn't have any further interaction with the site until it finishes...OR....He/She/It is in fact the troll king.
HumDoHamaraDo said: jcaserta said: Just a theory: What if JCarterVA is M Night Shyamalan????
M Night Shyamlan had one hit, has not been able to repeat it, he is not as creative as OP.
haha, this is very true. But that's what makes it an even better TWIST! The entire reason he's put out all those bad movies were to convince us he wasn't creative enough to pull this off, and now this is the grand finale of a decade long setup.
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