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Andreessen Pares Facebook Stake With Stock Price Near High

  • Board member unloaded about three-fourths of his holdings
  • Facebook reported third-quarter revenue that beat estimates
Updated on

Web-browser pioneer and investor Marc Andreessen has sold almost three-quarters of his Facebook Inc. stock for about $160 million since the end of October, according to regulatory filings.

Andreessen, famed for helping seed Facebook and a board member since 2008, unloaded 1.51 million shares as the company’s stock hovers near an all-time high, more than three years after the social-networking company went public in May 2012.