Revolve Co-CEOs Sell $847 Million Combined — Both Exit to Zero Shares

The two co-founders who built Revolve Group (RVLV) from a startup into a $1.5 billion online fashion platform have now sold every last share they own. Co-CEOs Michael Karanikolas and Michael Mente have generated a combined $847 million in career stock sales — and both have exited their positions completely.

The $433.5 Million Co-CEO

Michael Mente leads the pair with $433.5 million in career sales across 599 transactions. His most recent sales of $15.4 million brought his personal holdings to zero. That's nearly 600 individual sell transactions over his tenure — a methodical, decade-long liquidation of the company he co-founded.

The $413.6 Million Co-CEO

Co-CEO Michael Karanikolas follows closely with $413.6 million in career sales across 573 transactions. Like Mente, his recent $15.4 million in sales reduced his position to zero. The symmetry is striking — both co-founders selling nearly identical amounts in their most recent tranches.

Mirror Selling Through MMMK Development

Insider / Entity	Role	Career Sales	Transactions	Shares After
Michael Mente	Co-CEO	$433.5M	599	0
Michael Karanikolas	Co-CEO	$413.6M	573	0
MMMK Development, Inc.	Entity (co-founder vehicle)	$413.6M	570	0

The sales also flowed through MMMK Development, Inc., a holding entity associated with the co-founders, which itself recorded $413.6 million in sales across 570 transactions — now also at zero shares. The coordinated exit across both personal and entity accounts leaves no ambiguity: the founders have fully divested.

What Makes This Extraordinary

It's rare enough for a single CEO to exit to zero shares while still running the company. For both co-CEOs to do it simultaneously — with combined career sales approaching $1 billion — is virtually unprecedented among actively managed public companies.

Revolve went public in 2019 at $18 per share. The stock has traded between $10 and $50 since then. The co-founders have clearly been selling into every significant rally, and the recent sales mark the completion of that process.

The Question for Investors

Both Karanikolas and Mente remain as co-CEOs despite holding no equity. While executive compensation packages may provide ongoing incentive through future grants, the complete absence of ownership changes the alignment dynamic fundamentally. These co-founders built the company, took it public, and have now cashed out entirely.

View full Revolve insider data on the RVLV stock page.