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September 16, 2011 08:32 pm GMT
Two of Twitter's earliest investors, Fred Wilson of Union Square Ventures and Bijan Sabet of Spark Capital, are leaving its board of directors, Twitter has just confirmed with me. Peter Kafka reported news this morning and we independently heard the same thing from sources last night. The changing of the guard comes just as Twitter recently closed another $800 million in funding, in which preferred shareholders including Union Square and Spark are believed to have sold some shares to new investors in that transaction. As early investors, it is prudent for both to take some money off the table, but it also signals that their commitment to the company (at least financial) has also shrunk.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/WNPwCbuGiyw/
Confirmed: Fred Wilson And Bijan Sabet To Leave Twitters Board
Two of Twitter's earliest investors, Fred Wilson of Union Square Ventures and Bijan Sabet of Spark Capital, are leaving its board of directors, Twitter has just confirmed with me. Peter Kafka reported news this morning and we independently heard the same thing from sources last night. The changing of the guard comes just as Twitter recently closed another $800 million in funding, in which preferred shareholders including Union Square and Spark are believed to have sold some shares to new investors in that transaction. As early investors, it is prudent for both to take some money off the table, but it also signals that their commitment to the company (at least financial) has also shrunk. Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/WNPwCbuGiyw/
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