Andreessen Horowitz Sells One-Third Of Their Facebook Inc (FB) Shares
One of the investors in Facebook Inc (NASDAQ:FB) has sold a large chunk of their shares. Andreessen Horowitz has cashed in on their relatively early investment in Facebook by selling one-third of their ownership in the company that range at between $49 to over $50 per share.
“Venture investing involves a lot of experimentation,” stated Andreessen Horowitz partner Margit Wennmachers in an interview with AllThingsD. “Not all of them work. This one worked.”
Margit said that by selling some of their holdings in the company, the firm can return cash to their investors.
“We’re still feeling very good about Facebook,” adde Wennmachers.
Marc Andreessen, one of the co-founders of Andreessen Horowitz, was on the Facebook board of directors before setting up his investment firm. Marc is also a director at Facebook.