David Ebersman | |
|---|---|
.jpg) Ebersman in 2022 | |
| Born | 1969 (age 55–56) |
| Education | Brown University |
David A. Ebersman (born 1969)[1] is an American businessman and the co-founder andchief executive officer ofLyra Health. He previously served aschief financial officer ofFacebook andGenentech.[2][3] At Facebook, Ebersman orchestrated the largest U.S. Internet IPO of all time and set a record for CFO stock sales.[4]
David Ebersman was born in 1969.[1][where?] He attended theTrinity School inNew York City,[5] graduating in 1987.[citation needed] Ebersman attendedBrown University and graduated in June 1991 with anAB ininternational relations andEconomics.[6]
Ebersman began his professional career atOppenheimer & Co, Inc. in September 1991 as a Research Analyst. Ebersman left Oppenheimer & Co in February 1994 and began working forGenentech. He served as executive vice president and CFO of the company between 2006 and 2009.[3]
In September 2009, Ebersman joined Facebook as the company'schief financial officer, hired in part because he had "public company experience".[7] He oversaw the company'sinitial 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 aNew 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 byDavid Wehner.[4]
In May 2015, Ebersman announced the launch of Lyra Health, amental health care startup.[10] In 2021, the company was valued at $4.6 billion.[2]
Ebersman serves on the boards ofCastlight Health andSurveyMonkey, where he is chairman of the board.[11][12]