Venture capitalist Peter Thiel, Facebook Inc`s first institutional investor, has sold three-quarters of his remaining stake in the social network, according to a regulatory filing on Tuesday.
Thiel, who is a member of Facebook`s board, now owns 59,913 Class A shares in the company after selling 160,805 shares for about $29 million. http://bit.ly/2zd34za
Thiel sold roughly 20 million of his 26 million Facebook shares for $400 million following its stock market listing in 2012.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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