According to the documents that Facebook submitted to SEC on Wednesday, it indicated that Facebook management group and its board of directors sold off shares valued at $472 million since October 18.
Among the shareholders who sold off shares, Jan Joum realized the largest amount for cash-out. Jan Koum and other co-founders established WhatsApp in 2008.
When Facebook achieved the acquisition of WhatsApp at the expense of 419 billion， Jan Koum obtained partial cash and some Facebook’s shares. This was the first time Jan Koum sold off Facebook’s shares since WhatsApp’s acquisition.
Mark Andreessen, board director of Facebook sold off about 1.5 million shares, adding up to $160 million cash. He already sold off 73% of his Facebook shares and 90% of his A shares since October 30. In 2013, Mark Andreessen sold off 1.65 million A shares of Facebook, obtaining $91 million.
Andreessen became the advisor of Mark Zuckerberg in 2006 when Yahoo wished to purchase Facebook with $ 1 billion. He suggested Zuckerberg denied Yahoo’s offer. The suggestion he offered was priceless to Facebook. The market value of Facebook is over $290 billion.
What’s more, CPO Chris Cox and CTO Michael Schroepfer realized $25.8 million cash-out together during this time.
Facebook released earnings early this month, showing its revenue reached $4.5 billion in the third quarter.
Its share increased $2.64 on Wednesday on NASDAQ stock market. The increase rate was 2.51%, closing at $107.77.