Andreessen Horowitz Sells Groupon Shares For $14M Gain
After Groupon went public, Andreessen Horowitz sold their shares in the company to make a $14 million profit. Andreessen Horowitz (a16z) invested $40 million into Groupon in early 2011 for 5.1 million shares. They sold their entire stake in the company on June 1st after the expiration of the stock lock-up period. a16z’s decision to sell their stake was probably a good idea because they would currently be at a loss of $15 million if they maintained their stake based on the stock price of Groupon today according to VentureBeat.