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

Vineeta Agarwala is a common associate at Andreessen Horowitz

A transfer by Andreessen Horowitz to hitch 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 grow to be a brand new proprietor of Twitter.

Agency co-founder Ben Horowitz mentioned in a tweet that Musk was maybe the one individual on the earth with the “braveness, brilliance and abilities” 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 is not unusual for Silicon Valley traders to have a hand in competing startups, potential conflicts will be extra critical with publicly traded companies, mentioned John Coates, a professor at Harvard Legislation Faculty.

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

A consultant for Andreessen Horowitz mentioned 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 underneath scrutiny for earlier potential conflicts at Meta, corresponding to investing in firms — together with Oculus VR — that Fb ended up shopping for. At one level he was sued by traders for advising Meta Chief Government Officer Mark Zuckerberg on the way to shield his majority voting management even when he offered his shares.

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

For the reason that investor would not sit on Twitter’s board, his connection to Meta might not be a problem, mentioned David Larcker, a professor at Stanford College. “Though I do know of no option to determine this out from public information, I might guess that many executives and board members commerce within the shares of their rivals,” he mentioned.

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 regarded on the current decline in Meta’s valuation as a part of their deliberations, in keeping with an individual accustomed to the matter. They in the end concluded that the billionaire’s provide was honest.

Andreessen is not the one associate at his enterprise agency whose present relationships could get extra sophisticated after Musk’s deal is accomplished. Vineeta Agarwala, a common associate at Andreessen Horowitz who invests in biotech and medical firms, is married to Twitter CEO Parag Agrawal. It is unclear if Agrawal will stay as CEO underneath Twitter as soon as Musk takes over, however Musk has beforehand mentioned that he made his bid for Twitter partially as a result of he did not place confidence in 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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