Andreessen Horowitz co-founder, and Facebook Inc. (FB) director, Marc Andreessen sold about a third of his firm’s holdings in the world’s biggest social-networking service on Nov. 6, according to a filing with the U.S. Securities and Exchange Commission late Friday.
Andreessen’s venture capital firm sold 2.28 million FB shares at about $49 to $50 apiece, making the divestment worth more than $111 million, the data show. The firm still retains an additional 4.57 million shares.
“The investment and the return fully satisfies our venture thesis,” Margit Wennmachers, a partner of Andreessen Horowitz, said. “We’re obviously pleased with that.”
Facebook went public in May of 2012 for $38 a share. Before long, the company’s stock nosedived and eventually hit a low of $18.05. Since then however, FB shares have recovered quite handsomely ; gaining 147% yoy and printing the tape at 52-wk high of $54.83.
With a current market cap of $115.75 billion, Facebook ended Friday’s Nas session at $47.53 per share.
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