IPG Sells Half Its Stake in Facebook for $133 Million

  • SHARES

By Tonya Garcia Comment

Interpublic Group, home to advertising agencies like McCann Erickson Worldwide and PR firms including GolinHarris, Carmichael Lynch Spong, and Weber Shandwick, has sold half of its stake in Facebook for $133 million. The company first invested in Facebook in 2006.

“Facebook has since become a part of daily life for hundreds of millions of people around the world. Its ubiquity has meant the strategic value of our initial investment has moderated, while the financial value of that stake appreciated significantly,” IPG CEO Michael Roth said in a statement.

The same press release also announced a share repurchasing program. IPG stock closed on Friday at $8.64 per share.  Our colleagues at AllFacebook also have details about the sale.