Boston, MA 11/11/2013 (wallstreetpr) – The venture capital firm belonging to Facebook Inc (NASDAQ:FB) director, Marc Andreessen sold a third of its stake in the world’s number one online social networking recently.
On November 6th, the director of Facebook Inc, Marc Andreessen and the founder of Andreessen Horowitz sold around 2.28 million shares at a price of $49 to $50 per share. This information has been made available from a filing made available from the U.S. Securities and Exchange Commission recently. The company still holds around 4.57 million shares in total.
The spokes woman of Marc Andreessen, Margit Wennmachers said in a recent meeting that the investment plans of the firm were a success and the company still believes in the plans of Facebook Inc which is why the firm is holding a big portion of shares of the company. This step has been taken by the company so that from the money they would receive after selling of shares they can return the money to their investors.
Also according to Margit Wennmachers, the spokes woman of Marc Andreessen, the ventures include a lot of experimentation which is to be done well in advance. This venture also included a lot of experimentation and after which the decision was taken as to which shares were to be sold and which were to be retained by the company.
Marc Andreessen had helped to start a browser company by the name of Netscape which was acquired by AOL Inc in the year 1999. Moreover, Marc Andreessen who is one of the founders of Andreessen Horowitz was on the board of directors of Facebook Inc before setting up his own investment firm.
The firm Andreessen Horowitz has also invested in some of the country’s hottest start ups which also include Facebook and the online bulletin board known as Pinterest.
