Palo Alto, Calif. – Venture capital firm Accel Partners has
sold 17% of its stake in Facebook for $516 million, giving the company a $35
billion valuation, reported, citing sources. Buyers of the shares are
said to include a range of private equity funds, possibly including Technology
Crossover Ventures or Andreessen Horowitz.

The sale by Accel will effectively
make Russia’s Digital Sky Technologies the company’s largest shareholder among

The report adds that SecondMarket, which holds online
auctions for shares in privately-held companies, plans to launch a pilot
program offering Facebook share sales this week.

SecondMarket says it has
already handled over 120 Facebook transactions, valued at more than $300 million.

The reserve price for Facebook shares on SecondMarket will be $20.60 —
compared to the estimated $71 per share Accel garnered for its Facebook shares.



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