After Peter Thiel it is Dustin Moskovitz, Facebook
Inc(NASDAQ:FB) co-founder and Mark Zuckerberg's roommate in Harvard when they
were in the process of working on Facebook.
Moskovitz revealed in a regulatory filing late on
Tuesday that he has sold about 450,000 of his shares in Facebook for $9 million
at prices ranging between $18.79 and $20.08 a share.
This represents, of course, a small chunk of his total
stake in the company, in which he still owns more than 133 million shares.
The filing revealed that he had sold the shares in small
lots of 150,000 each over Friday, Monday and Tuesday right after the release of
the locked-in shares.
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Moskovitz, who did not sell any shares in the Facebook
IPO in May, is eligible to sell seven million more shares that he converted to
Class A from Class B. He however left Facebook in 2008 to found his own software
company Asana.
Meanwhile in a separate development the U.S. Federal
Trade Commission that it has closed its investigation into the proposed
acquisition of Instagram by Facebook, taking it one step closer to completing
the transaction.
The social networking company now faces a fairness hearing
on the transaction but that is not likely to stall or stop the deal in any way
though it can delay the closing date of the deal.
"We are pleased that the Federal Trade Commission
has cleared the transaction after its careful and thorough review,"
Facebook said in a statement on Wednesday.
The deal which involves a mix of cash and stock is
currently valued at $747 million based on Facebook’s prevailing market price.
no longer the 1 billion dollar purchase
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