With $29.5 million, Automattic cashes out some insiders
Automattic, the maker of WordPress blog-publishing software, has raised $29.5 million from the New York Times Co. and existing ventures.Not all of the money went straight into the company's coffers, however: Some insiders with vested options sold shares in the round. This is perhaps the most notable example of a new trend: Startup employees profiting from their stakes before a sale or IPO. Reports, however, miss the most tantalizing details: Anyone know who cashed out — founder Matt Mullenweg? CEO Toni Schneider? — how much they sold, and if they're buying any new cars?