David Ebersman

David Ebersman
Born1969 (age 54–55)
EducationBrown University

David A. Ebersman (born 1969)[1] is an American businessman and the co-founder and chief executive officer of Lyra Health. He previously served as chief financial officer of Facebook and Genentech.[2][3] At Facebook, Ebersman orchestrated the largest U.S. Internet IPO of all time and set a record for CFO stock sales.[4]

Early life

David Ebersman was born in 1969.[1][where?] He attended the Trinity School in New York City,[5] graduating in 1987.[citation needed] Ebersman attended Brown University and graduated in June 1991 with an AB in international relations and Economics.[6]

Career

Ebersman began his professional career at Oppenheimer & Co, Inc. in September 1991 as a Research Analyst. Ebersman left Oppenheimer & Co in February 1994 and began working for Genentech. He served as executive vice president and CFO of the company between 2006 and 2009.[3]

Facebook

In September 2009, Ebersman joined Facebook as the company's chief financial officer, hired in part because he had "public company experience".[7] He oversaw the company's initial public offering on May 18, 2012—then the largest U.S. Internet offering of all time.[8][4] The IPO proved controversial after the company's market value dropped significantly over the following weeks. In a New York Times article, Andrew Ross Sorkin pointed to Ebersman's culpability for the "catastrophe of an initial public offering," writing "if there is one single individual more responsible than any other for the staggering mispricing of Facebook's I.P.O., it is Mr. Ebersman."[9]

In November 2013, Ebersman set a record for CFO stock sales when he cashed in more than 900,000 shares of Facebook stock worth $42.6 million. He sold $26.2 million more worth of stock in December of that year.[4] Ebersman stepped down from his role at Facebook in June 2014 and was succeeded by David Wehner.[4]

Lyra Health

In May 2015, Ebersman announced the launch of Lyra Health, a mental health care startup.[10] In 2021, the company was valued at $4.6 billion.[2]

Ebersman serves on the boards of Castlight Health and SurveyMonkey, where he is chairman of the board.[11][12]

References

  1. ^ a b CNBC (2012-05-22). "David Ebersman". www.cnbc.com. Retrieved 2021-12-30.
  2. ^ a b Jennings, Katie. "Health Insurance For Mental Health Is Terrible. This $4.6 Billion Startup Is Shaking Up The Status Quo". Forbes. Retrieved 2021-12-30.
  3. ^ a b "Facebook hires former Genentech exec Ebersman as its new CFO". LA Times Blogs - Technology. 2009-06-29. Retrieved 2021-12-30.
  4. ^ a b c d Albergotti, Reed (2014-04-23). "Facebook CFO Ebersman to Step Down Two Years After IPO". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-12-30.
  5. ^ Blodget, Henry. "We Just Found Someone Who Knew Facebook's CFO David Ebersman When He Was In High School..." Business Insider. Retrieved 2021-12-30.
  6. ^ David A. Ebersman. "David Ebersman: Executive Profile & Biography – Businessweek". Investing.businessweek.com. Retrieved 2012-05-22.[dead link]
  7. ^ "Facebook hires former Genentech exec as CFO". ZDNet. 2009-06-29. Retrieved 2012-05-22.
  8. ^ "Going Public: Key Developments in Facebook's IPO – ABC News". Abcnews.go.com. 2012-02-01. Archived from the original on 2012-05-22. Retrieved 2012-05-22.
  9. ^ Andrew Ross Sorkin. "DEALBOOK; The Man Behind Facebook's I.P.O. Debacle". query.nytimes.com. Retrieved 2021-12-30.
  10. ^ Jennings, Katie. "Lyra Health Hits $1.1 Billion Valuation, As Coronavirus Boosts Need For Teletherapy". Forbes. Retrieved 2021-01-15.
  11. ^ "David a Ebersman, Lyra Health Inc: Profile and Biography". www.bloomberg.com. Retrieved 2021-12-30.
  12. ^ Jennings, Katie. "Lyra Health Hits $1.1 Billion Valuation, As Coronavirus Boosts Need For Teletherapy". Forbes. Archived from the original on August 26, 2020. Retrieved 2021-12-30.