To the finish line – Despite his changes in position, Elon Musk can always count on one of his “oldest” financial partners to support him in its proposed purchase of Twitter.
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Purchase of Twitter: the 800 million dollars of Sequoia Capital still on the table?
Sequoia Capital would still ride with Elon Musk, regarding the offer of $44 billion for the purchase of Twitter. Citing a source familiar with the matter, the media The Information indicates that the investment company would maintain the funds provided for this transaction.
Sequoia Capital had put on the table $800 million last April. Elon Musk had subsequently made several voltefaces. He thus left in the first place a big doubt as to the effective conclusion of the operation.
In early October, the billionaire finally made a move that brought clarity regarding the likely outcome of this acquisition project. On October 3, the founder of Tesla filed a notice with the Delaware Court of Chancery, where he specifies that he has decided to close the transaction provided for by “the merger agreement of April 25, 2022”.
Elon Musk and investors: Sequoia Capital and Binance used to roller coasters?
Sequoia Capital would therefore not have fled in the face of the changing moods of Elon Musk. This succession of 180% turns would probably make many investors dizzy. But, the investment company may already be used to these abrupt changes in the billionaire’s attitude.
Sequoia Capital is, in fact, in the list of the first investors of the company that Elon Musk co-founded, and which will become PayPal. Most recently, in April this year, the investment company led the financing round of $675 million for the benefit of The Boring Company, the tunnel construction company founded by Elon Musk.
Sequoia Capital would not be the only investor who was on the starting line more than six months ago. Binance reportedly still intends to contribute $500 millionfor the purchase of Twitter.
The CEO of the crypto exchange, Changpeng Zhao, pointed out in May that his company hoped “to be able to play a role in bringing social media and Web3 together.”
Not all investors seem to have the nerves strong enough, like Sequoia Capital and Binance, to continue the adventure. Two companies would have ceased talks with the billionaire, on the purchase of Twitter, since a few months.
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