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Wednesday, May 16
2012, 11:02 AM
Facebook's (FB) institutional investors are taking advantage of the boosting of the company's...
Facebook's (FB) institutional investors are taking advantage of the boosting of the company's IPO offering size and price range to cash out. According to its latest S-1, VC backer Accel Partners will sell up to 28% of its stake, while Peter Thiel, Goldman Sachs, and Tiger Global each plan to sell up to 50%. Facebook's IPO insider selling is much higher than that seen for LinkedIn, Groupon, and Zynga's offerings, and is arguably a warning for investors tempted to chase the stock after it opens.