Facebook backer Jim Breyer sells $81.1M in stock
The venture capitalist, an early big backer of the company, shed some of his holdings last week.
Jim Breyer, the venture capitalist whose firm Accel Partners made an filing with the Securities and Exchange Commission., last week sold shares of Facebook worth more than $81.1 million, according to a
More specifically, Breyer, who sits on Facebook's board, sold 3,563,387 shares at prices ranging from $22.48 to $23.29 per share. The sales occurred last Thursday.
While those prices are a far cry from the $38 a share that Facebook went public at in May, Breyer still hit a high point of late. The stock had just rallied following Facebook'sand an call with Wall Street analysts in which CEO Mark Zuckerberg talked up the . A week earlier, the stock was trading around $19.
Breyer, according to the filing, still holds more than 7.2 million shares, which, at Facebook's current price of $21.94, is worth more than $157.6 million.
Breyer courted Zuckerberg in Facebook's early days and eventually got him to agree to take a $12.7 million investment that valued the company at $93 million. What a bet that turned out to be -- for him and his firm. Accel sold $2.1 billion worth of shares into the IPO.
Correction, 5:45 p.m. PDT: This story incorrectly stated the amount of the sale. Breyer sold shares of Facebook worth more than $81.1 million.