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February 28, 2011 08:04 am GMT
Lots and lots of buzz today in all the major newspapers about how J.P. Morgan is trying to buy 10% or so of Twitter for $450 million.As far as I can tell, all of the stories are wrong. In particular, say my sources, Twitter isn't negotiating with anyone - J.P. Morgan or otherwise - about a new funding round. The last round with Kleiner Perkins seems to have more than satisfied their near term capital appetite. Also, J.P. Morgan isn't currently trying to buy Twitter shares through the secondary market, either, say my sources. That's because they already indirectly own 10% of Twitter.Here's what's really going on, as far as I can tell from sources:
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/IiO2Tyy4Uf8/
How Chris Sacca And J.P. Morgan Acquired 10% Of Twitter Via Huge Secret Secondary Fund
Lots and lots of buzz today in all the major newspapers about how J.P. Morgan is trying to buy 10% or so of Twitter for $450 million.As far as I can tell, all of the stories are wrong. In particular, say my sources, Twitter isn't negotiating with anyone - J.P. Morgan or otherwise - about a new funding round. The last round with Kleiner Perkins seems to have more than satisfied their near term capital appetite. Also, J.P. Morgan isn't currently trying to buy Twitter shares through the secondary market, either, say my sources. That's because they already indirectly own 10% of Twitter.Here's what's really going on, as far as I can tell from sources:Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/IiO2Tyy4Uf8/
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