Facebook board member and investor Marc Andreessen has sold nearly half of his stock in the social network for $ 96.5 million.
Over the past two weeks, Andreessen, who was an early Facebook (Tech30) investor, sold more than 900,000 of his shares, according to SEC filings. ,
Andreessen is a major Silicon Valley figure, known for his Twitter rants and unfiltered commentary. A cofounder of early browser Netscape, Andreessen started venture capital firm Andreessen Horowitz with partner Ben Horowitz in 2009. In addition to Facebook, his firm has invested in Skype, Twitter (Tech30), , Groupon ( and Airbnb. )
Andreessen continues to sit on Facebook’s board and still owns more than 1.1 million shares in the company. The scheduled stock sales were part of a prearranged trading plan.
Spokespeople at Facebook and Andreessen Horowitz declined to comment.
Facebook’s stock was up more than 1% on Tuesday to $ 108 a share.
At a recent panel with Facebook’s Sheryl Sandberg, Andreessen was asked why he appeared to use Twitter more than Facebook.
“I believe I’m doing valuable competitive analysis,” joked Andreessen.