Several of Groupon Inc's [NASDAQ: GRPN] largest early investors have sold their stock in the troubled online voucher site, it was reported today.
Internet finance mogul Marc Andreessen, who invested $40 in the company months before it went public last November, has cashed out, while investors Fidelity and Maverick Capital have sold a large portion of their shares, the Wall Street Journal reported.
Groupon's stock price has fallen by three quarters since its glitzy IPO, a loss of around $10 billion, and the firm's rapid fall from grace echoes the disappointment of other online stock failures such as Facebook and Zynga.
Groupon's stock closed at a record low of $4.75 on Friday.
Andreessen's firm, Andreessen Horowitz, sold 5.1 million Groupon shares after selling restrictions expired on June 1.
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