

Accel to sell around $1 billion in Facebook stock (most of their stock) - hornbaker
http://thenextweb.com/facebook/2012/08/16/accel-sell-around-1-billion-facebook-stock-representing-vast-majority-stake/

======
jgrahamc
Or not:

"Update: This is a bit different than we thought. As it turns out, the shares
Accel intends to sell are a majority of what it is now eligible to sell. Its
total holdings exceeded 150 million shares. TNW apologizes for the confusion."

~~~
stephengillie
Should this thread's title be changed?

------
startupfounder
Accel is not in the business of publicly traded stock, they are in the
business of high risk high return private investment. They invested $12.7
million in Facebook and selling it for $1 Billion. They have already made
their money and want to return it to their LPs, take their 20% commission of
$200 million and raise another fund to do it all over again. Even if the stock
went to $100 per share the marginal return on their investment vs. them
spending their time investing in the next Facebook. By my calculation they
have already netted $200,254,000 on this deal +/-.

EDIT: They will Net the $200m from this deal and then another ~$400m from
future sales.

~~~
calbear81
I agree with this in general but if the original investment was only $12.7
million, that's pocket change to Accel and I would think the LPs would have a
say in whether or not they should hold or sell. For their next fund, they
would have no problem raising several hundred million dollars without having
to sell their FB stake given their stellar track record.

~~~
kkwok
Why should the LP's have a say in whether to sell or not? If they'd prefer to
hold public Facebook stock, they could take their cut of the return and put it
back in fb stock.

