Marc, Oliver, and Alexander Sawmer Sell Facebook Shares They Bought In 2008
Brothers Marc, Oliver, and Alexander Sawmer run a fund called the European Founders Fund. They bought shares in Facebook in 2008 and sold it recently. They sold their shares because they are in early stages and their requirement for capital for existing investments has tripled.
The Sawmers invested in Facebook when it was worth $15 billion. Now Facebook is being valued at higher than $50 billion. The Sawmer brothers have a solid track record in terms of their previous investments and start-ups.
The Sawmer brothers founded a company called Alando and sold it to eBay for $54 million in 1999. They founded another company called Jamba and sold it to VeriSign for $273 million . They founded the European Founders Fund in 2006. Through the Fund, they put money in companies like StudiVZ (sold for 100 million Euros) and sold European Groupon clone MyCityDeal to Groupon itself.@amitchowdhry or on Google+ at +AmitChowdhry