The basics of founder liquidity in venture financings

In today’s funding environment, hot companies are gaining the upper hand in negotiating deal terms that would have been unheard of a few years ago. One such term we’ve seen recently in venture deals is partial liquidity to founders.

Confirmed: Accel sold Facebook shares at $34B valuation

Looks like it isn’t just employees who are cashing out on their Facebook shares. TechCrunch reported earlier today that Accel Partners sold “very significant chunks” of its stake in the company (while also holding on to the vast majority of its shares), and I’ve confirmed the news with a source.

Why entrepreneurs seem to be growing fangs

(Editor’s note: Jeff Bussgang is a General Partner at Flybridge Capital Partners. This column originally appeared on his blog Seeing Both Sides.)