Andreessen Horowitz sells a third of its Facebook shares
Andreessen Horowitz sold one third of its Facebook shares, as shown by a document recently filed with the U.S. Securities and Exchange Commission. This was according to a report published by Reuters.
Andreessen Horowitz is a venture capital firm co-founded by Facebook director Marc Andreessen. The said regulatory filing showed that the firm sold 2.28 million of its shares on November 6 at USD49 to USD50 apiece. Andreessen Horowitz still holds 4.57 million Facebook shares, said the report.
On Sunday, Andreessen Horowitz spokewoman Margit Wennmachers said the firm achieved success in its investment thesis. She also said the company will hold on to its remaining shares because there are still big believers in the top online social network, said the report.
Marc Andreessen invested in other top internet startups in the country including Facebook and Pinterest. He was also one of the founders of browser company Netscape, which was bought by AOL Inc in 1999, Reuters said.