Original Member of Facebook Management Team Buys Stake in Golden State Warriors
August 11, 2011
Former member of Facebook Inc’s management team, Chamath Palihapitiya, has joined the ownership group of the National Basketball Association’s Golden State Warriors
Oakland, California-based team announced Palihapitiya’s investment yesterday in a news release.
In four years at Facebook, the 34-year-old Palihapitiya worked in many roles, including vice president of user growth, mobile and international.
The Warriors were sold in July 2010 for a league-record $450 million by Christopher Cohan to a group led by Joe Lacob, managing partner at the San Francisco Bay Area-based venture capital firm Kleiner Perkins Caufield & Byers, and Peter Guber, chairman of Mandalay Entertainment Group.
The Warriors have made the postseason once since 1994. Golden State had a poor season last year only managing 12th among the Western Conference’s 15 teams last season with a 36-46 record.