A little unethical in my opinion, but the money makes the world go round… and what a boost of confidence for the company.
Jim Balsillie, the co-founder and former co-Chief Executive of the former Research In Motion, has sold every single BlackBerry share of the Canadian technology giant (that recently changed its name from Research in Motion to BlackBerry).
Do you think Jim Balsillie exit could raise concerns over the future of BlackBerry?
By selling now, it sure seems that he feels things are only going to get worse. Good bye Jim…
Research In Motion (BlackBerry smartphone maker) was co-founded in 1992 by Jim Balsillie and Mike Lazaridis, once owned up to 33% of the company. Balsillie, once re-mortgaged his house to help build the BlackBerry company, sold his entire stake in the company more than 26 million shares or roughly a 5% stake as of December 31, 2012.
Mike Lazaridis, who still serves as vice chairman of BlackBerry, owns 29.9 million shares in the company.
Now the question is, who bought the 26.6 Million Shares? All Jokes aside, company has struggled to compete against Apple’s iPhone and then Google’s Android-running device.
Jim Balsillie is now advising a number of venture capital firms and startups, including OMERS Ventures and m-Health Solutions, a mobile health company.
While it remains to be seen whether BlackBerry 10 operating system and the two new devices the Z10 and Q10, will, as hoped, save the company?