Dustin Moskovitz, the fortunate co-founder of both Facebook (Meta) and Asana, is taking advantage of his current company’s market dip by investing even more of his personal wealth. Presently Asana’s Chief Executive Officer, Moskovitz has purchased $81 million of his company’s stock in a pre-arranged trading plan, increasing his stake in the company to over 40%. This comes as Asana’s stock price has dropped significantly after reaching a record high in November 2021, part of a drastic fall shared by many other cloud software companies. His latest dip-driven purchase has helped fortify Asana’s stock in the midst of a tumultuous market.
Asana is one of the cloud-based productivity softwares that most benefited from the pandemic-related remote work push. Its popular project management platform is used by over 100,000 customers, and the company boasts roughly 70% revenue growth in the second and third quarters of fiscal year 2021. Despite fluctuations, the company’s stock value rose over 150% in 2020. Moskovitz has served as Asana’s CEO since its founding in 2008, leading the company to a multitude of recognition and awards, including being named to Inc. Magazine’s inaugural list of Best-Led Companies in 2021.