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In Elon Musk's Twitter Bid, A Role For CEO Parag Agrawal's Wife

Vineeta Agarwala is a common companion at Andreessen Horowitz

A transfer by Andreessen Horowitz to affix Elon Musk’s bid for Twitter Inc. threatens to create a battle for agency co-founder Marc Andreessen, who sits on the board of social-networking rival Meta Platforms Inc.

Andreessen Horowitz agreed to take a position $400 million within the Twitter takeover deal, a part of $7.1 billion in new financing commitments introduced Thursday. That put one of many greatest early backers of Fb, which modified its title to Meta final 12 months, in place to turn into a brand new proprietor of Twitter.

Agency co-founder Ben Horowitz stated in a tweet that Musk was maybe the one particular person on this planet with the “braveness, brilliance and expertise” to repair Twitter’s issues and “construct the general public sq. that all of us hoped for and deserve.”

Andreessen Horowitz’s involvement has raised questions in regards to the VC agency’s hyperlinks to Meta, the place Marc Andreessen has served as a board member since 2008. Although it isn’t unusual for Silicon Valley traders to have a hand in competing startups, potential conflicts could be extra critical with publicly traded companies, stated John Coates, a professor at Harvard Regulation Faculty.

“It is secure to say that Silicon Valley norms about conflicts — the place they’re usually tolerated and even inspired, in a tradition alongside the traces of ‘all of it comes out within the wash’ — are harmful to hold over to the world of public corporations,” he stated.

A consultant for Andreessen Horowitz stated it deliberate to hunt authorized recommendation to make sure compliance with any guidelines across the sharing of Twitter info with the agency.

Andreessen, 50, has come beneath scrutiny for earlier doable conflicts at Meta, equivalent to investing in corporations — together with Oculus VR — that Fb ended up shopping for. At one level he was sued by traders for advising Meta Chief Govt Officer Mark Zuckerberg on tips on how to defend his majority voting management even when he bought his shares.

On Twitter, Andreessen has been publicly supportive of Musk, and he is railed towards the content-moderation insurance policies at social media corporations. Musk has stated he plans to loosen the foundations if he takes cost of Twitter.

Because the investor does not sit on Twitter’s board, his connection to Meta is probably not a problem, stated David Larcker, a professor at Stanford College. “Though I do know of no solution to determine this out from public knowledge, I might guess that many executives and board members commerce within the shares of their rivals,” he stated.

Twitter, whereas far smaller than Fb, is taken into account a Meta rival, competing for digital promoting {dollars} and customers’ posts. When Twitter’s board was evaluating whether or not to take Musk’s bid, they appeared on the current decline in Meta’s valuation as a part of their deliberations, in accordance with an individual accustomed to the matter. They finally concluded that the billionaire’s supply was truthful.

Andreessen is not the one companion at his enterprise agency whose current relationships could get extra difficult after Musk’s deal is accomplished. Vineeta Agarwala, a common companion at Andreessen Horowitz who invests in biotech and medical corporations, is married to Twitter CEO Parag Agrawal. It is unclear if Agrawal will stay as CEO beneath Twitter as soon as Musk takes over, however Musk has beforehand stated that he made his bid for Twitter partially as a result of he did not think about the corporate’s present management.

On Thursday, CNBC reported that Musk plans to take over as CEO for a short while after the deal closes.

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