Andreessen Horowitz Distributes Facebook-Instagram Shares, But Holds Bulk of Direct Investment
According to a new filing to the Securities and Exchange Commission, high-profile Silicon Valley venture firm Andreessen Horowitz has distributed just over three million shares of Facebook that it got from the sale of its investment in photo-sharing site Instagram. And, as had been previously reported, Marc Andreessen, who is a Facebook director, is also planning to unload a small amount of stock to cover his personal tax liabilities. In addition, one of the limited partners of Andreessen Horowitz also asked for a distribution of the firm’s direct investment. The firm continues to hold close to 3.9 million shares of Facebook, whose stock has taken a beating since it went public earlier this year. That’s due to a number of reasons, including the end of lock-up periods of a huge number of Facebook employee shares that are now able to come onto the market.