Fred Wilson of Union Square is this morning’s kick off speaker at NYC TechCrunch Disrupt. He’s invested in almost every successful social startup, from Zynga to Twitter.
It doesn’t look that great for an investor to sell company stock before an IPO, but Fred Wilson doesn’t deny that his firm has already sold some of its Twitter shares.
When TechCrunch’s Erick Schonfeld asked him point-blank, Wilson replied, “I don’t want to say what we’ve done, but I wouldn’t argue with any of the reports out there.”
“We certainly wouldn’t sell stock in a company that the founders haven’t yet sold,” he continues. “We also don’t want to get out ahead of the company’s capital needs. If the company was organising an opportunity to sell or a sales transaction came around that the company was partial to, we would do that as long as we were aligned with the founders.”
“It’s complicated,” he says. But despite selling some of the stock, Wilson says he’s “very confident in Twitter.”