Marc Andreessen, the venture capitalist who brought the Web to the world when he created Mosaic and Netscape, sold a third of his fund's holdings in Facebook. Is now the time to get out?
A fund back by one of the founding fathers of the Worldwide Web, is selling one-third of its stake in Facebook. Andreessen Horowitz, the well-respected venture capitalist firm run by 42 year-old Marc Andreessen, is selling one-third of its stake in Facebook, according to filings from the SEC. Andreessen is a Facebook director.
Andreessen Horowitz sold 2.28 million shares of the social networking giant last week for about $111 million. The fund still has 4.57 million shares of Facebook worth about $215 million.
Andreessen is no ordinary West Coast investor. He led the team that created Mosaic, the first successful web browser that introduced the laymen to the Internet. He later went on to start Netscape, the software webRead More »from This tech guru is selling Facebook. Should you?