Twitter Co-Founder Says They're Not In Talks With JP Morgan

biz stone by joi ito

Twitter co-founder Biz Stone told reporters at an event in Seoul that the company isn’t in talks with JP Morgan to sell them $450 million of stock, Reuters reports.

This is compatible with earlier reports that JP Morgan had bought the stock, when it was unclear whether it i through secondary markets or directly from Twitter. The scuttlebut is that JP Morgan bought the stake from Ev Williams, who netted $100 million, and early investors Union Square Ventures and Spark Capital. It’s unlikely that JP Morgan could buy so much stock from such important stakeholders of the company without the company knowing and approving it.

Previously: JP Morgan Buys Huge Stake In Twitter →

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