Facebook director sells as shares leap
Andreessen Horowitz sold 2.28 million shares on November 6, according to a filing with the US Securities and Exchange Commission. The shares were sold for $49 to $50 apiece, making the divestment worth more than $111 million, the data show. The firm still holds 4.57 million shares.
Facebook reached a record valuation amid growing optimism about its prospects for making money off more than 1 billion users, especially those logging on via mobile devices.
The company reported a 60 per cent surge in revenue in the latest quarter to $2.02 billion, exceeding analysts' average projections and adding fuel to a share rally that has pushed the stock up 79 per cent this year.
Peter Thiel, an early investor in Facebook and a board member, sold more than $1 billion of the company's shares in the IPO and after the end of the first lock-up period.
Facebook declined less than 1 per cent to $47.53 at Friday's close in New York.
Frequently Asked Questions about this Article…
Marc Andreessen's venture-capital firm, Andreessen Horowitz, sold a third of its Facebook holdings after the stock price reached a record high. This strategic move was likely made to capitalize on the increased valuation and secure profits.
Marc Andreessen's venture-capital firm, Andreessen Horowitz, sold a portion of its Facebook shares after the stock price reached a record high. This strategic move allowed them to capitalize on the increased valuation.
Andreessen Horowitz sold 2.28 million Facebook shares, according to a filing with the US Securities and Exchange Commission.
Andreessen Horowitz sold 2.28 million Facebook shares, which were priced between $49 and $50 each, totaling over $111 million.
The Facebook shares sold by Andreessen Horowitz were valued between $49 and $50 each, making the total divestment worth more than $111 million.
Facebook's stock price increase is significant because it reflects growing optimism about the company's ability to monetize its vast user base, particularly those accessing the platform via mobile devices.
After the sale, Andreessen Horowitz still holds 4.57 million Facebook shares.
Facebook reported a 60% surge in revenue in the latest quarter, exceeding analysts' expectations. This impressive performance has contributed to a 79% increase in the stock's value this year.
Facebook's record valuation was driven by growing optimism about its ability to monetize its over 1 billion users, particularly those accessing the platform via mobile devices.
Peter Thiel, an early investor and board member of Facebook, sold more than $1 billion worth of the company's shares during the IPO and after the first lock-up period ended.
Facebook reported a 60% surge in revenue in the latest quarter, exceeding analysts' projections. This strong financial performance contributed to a 79% increase in its stock price this year.
After the recent sale, Andreessen Horowitz still holds 4.57 million Facebook shares.
Yes, Peter Thiel, an early investor and board member, sold more than $1 billion worth of Facebook shares during the IPO and after the first lock-up period ended.
At the close of trading in New York, Facebook's stock price was $47.53, reflecting a decline of less than 1%.
Facebook's stock price closed at $47.53 on Friday, experiencing a decline of less than 1%.
Facebook's record valuation is driven by optimism about its revenue potential from over a billion users, especially those using mobile devices, and its strong financial performance exceeding market expectations.
Call 1300 880 160
Start a chat
Schedule a call
