Twitter’s employees are not cashing in on the company’s big $200 million round of funding.
Dan Primack at Fortune reports none of the money in this round will be used to buy back stock from early employees.
Thanks to Russian holding firm DST, recent later stage rounds in big tech companies have allowed early employees to cash in.
It makes sense Twitter wouldn’t push for a DST style deal. Many of Twitter’s top execs are already wealthy from selling companies.
Primack has a few other nuggets:
- He says Kleiner did this deal because it wanted the brand recognition of being invested in Twitter. It is/was losing its luster in the Valley. Now its an investor in Twitter and Zynga, which should give it cred.
- He says this wasn’t the highest valuation offered to Twitter.
- He says Union Square Ventures is the only previous investor that sat this round out. It seems to have to do with fund size restrictions.
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