Thursday was the first day that major investors in Facebook could sell their shares — and one company did just that. Accel Partners, one of the earliest investors in the social network, reportedly sold 50 million shares of Facebook (total worth: roughly $1 billion). Others could follow suit soon. Facebook’s stock, which closed Wednesday at $21.20 per share, fell to $19.87 when the closing bell rang Thursday.
Don’t you just love a good infographic? Earlier today, we spotted this interesting visual from The Wall Street Journal highlighting major stakeholders that have changed the number of shares they plan to sell when Facebook’s initial public offering launches tomorrow.
The much-ballyhooed Facebook initial public offering will open trading Friday morning at $38 per share, the top end of the range the social network filed with the Securities and Exchange Commission earlier this week, CNBC reported.
Facebook filed with the Securities and Exchange Commission Wednesday morning to add 83,818,263 shares to its Friday initial public offering, bringing the total offering to 421,233,615 shares of class-A common stock.
Companies included in Facebook’s Preferred Marketing Developer program have raised a total of $915.17 million in publicly disclosed funding, with nearly one-half of that amount going to advertising application-programming-interface vendors, according to research from “decision support system” AlphaBoost.
According to Nicholas Carlson, Accel partners, one of the initial investors in Facebook, just close a $1 billion round, $480 million of which is going toward a new “Growth Fund”, for late-stage companies. While Facebook says that they have plenty of money in the bank, many have been speculating about the company’s cash position stating that the cost of growth has been extremely costly forcing them to raise another round.