IPG said ' ubiquity ' of Facebook reduced the strategic value of the investment. Photo: Dominic Lipinski/PAInterpublic Group, the U.S. marketing services giant that owns the ad agency networks including Lowe and McCann-Erickson, has sold half of its stake in Facebook for $ 133 m £ 81 m.
IPG was a relatively early investor, Facebook, buy "less than half of 1%" in social networks website in 2006 as part of a broader strategic partnership.
The selling price of half of the game, which is believed to have been 0.4%, values Facebook at around $ 65bn.
When IPG acquired game said the deal included working with Facebook on marketing pilot programmes including "sponsorships, consumer research and creation of content on behalf of its clients".
Michael Roth, the Executive Director and Chairman of the IPG, said "ubiquity" of Facebook have now reduced the strategic value of the investment, while admitting the value of the game have the port directive.
"Interpublic formed a strategic relationship with Facebook in 2006, allowed us to fast track growth of our social media offers on behalf of clients," added Roth.
«Facebook has since been a part of everyday life for hundreds of millions of people around the world. Its ubiquity has resulted in the strategic value of our original investment has declined, while the economic value of that game appreciated significantly. "
Roth said an "attractive opportunity" to sell some of the games had presented itself and it "makes sense" to do.
IPG does not reveal the number shares it sells but said that the sell-off would see a ultimonettoværdi gain of about $ 132 m.
In June bought investment fund GSV Capital Corp 225,000 shares in Facebook for an average price of $ 29.28 each, valuing social networks on the Web site for around $ 70bn.
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