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Two high profile Silicon Valley angel investors are locked in a heated battle over shares of Twitter, Brad Stone at BusinessWeek reports.Both Ron Conway and Chris Sacca have raised large funds to allow outside investors to buy Twitter shares without tripping the 500 shareholder limit which forces a company to disclose its financials.
But the process of getting shares for their respective funds has turned into a “fierce” competition with Sacca and Conway’s people accusing each other of some ugly tactics.
Specifically, Stone writes, “Sacca’s sympathizers contend that Conway has personally threatened to raise roadblocks in the careers of former Twitter employees if they did not sell their shares to his fund.”
Stone also reports, “People sympathetic to Conway contend that Sacca has exploited his close friendship to Ev Williams, Twitter’s former chief executive and a board member, to learn about and intercept other buyers’ deals for Twitter shares.”
The latter charge hardly seems like a big deal. Of course Sacca is going to use his friendship with Williams to gain insight. This is business; this is how it works.
The former charge — that Conway is threatening people — is explosive. Conway is generally seen as good person in the Valley. This seems like a cut throat tactic that steps well over the line.
We reached out to both Sacca and Conway, but haven’t heard back yet. If we hear anything, we will update you.