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The a16z crypto general partner is not new to Twitter. He wrote on his LinkedIn page that he worked at Twitter for three years, between 2017 and 2019.
VC company Andreessen Horowitz (a16z) is also one of the pro-crypto companies supporting Elon Musk in his recent overtaking of Twitter ownership. With the billionaire’s position in the business world, he is expected to receive assistance from prominent names and notable companies across different sectors.
General Partner Confirms Relationship between a16z and Elon Musk’s Twitter Takeover
A general partner at the venture capital company confirmed the after of the relationship between a16z and Musk on the Twitter acquisition. On the 30th of October, Sriram Krishnan posted a picture from Twitter’s headquarters in San Francisco, noting that he is rendering a helping hand to the Tesla CEO. He wrote:
“Now that the word is out: I’m helping out Elon Musk with Twitter temporarily with some other great people. I (and a16z) believe this is a hugely important company and can have great impact on the world and Elon is the person to make it happen.”
Notably, the a16z crypto general partner is not new to Twitter. He wrote on his LinkedIn page that he worked at Twitter for three years, between 2017 and 2019. While in service at the social networking company, he led “core consumer product teams” and contributed to user growth. He said he drove Twitter user growth by 20% YoY within two years. Additionally, Krishnan “launched several products including a redesigned events experience. Headed up core product teams including home timeline, onboarding/new user experience, search, discovery, etc. “
Before his time at Twitter, the crypto fan worked at Snap (NYSE: SNAP), Facebook (NASDAQ: META), and Microsoft (NASDAQ: MSFT). There are currently no details on the latest responsibilities at Twitter. Regardless of the limited information on the relationship between Musk’s Twitter overtake and a16z, it is a known fact the VC firm has an interest in Web3. As of May, the company had more than $7.6 billion worth of investment in crypto and other projects related to blockchain. It is no longer news that the crypto space is sinking, and many are wallowing in losses. Amid major crypto declines, a16z’s crypto fund has shed 40% compared to earlier in the year. However, the company remains bullish on crypto. Who knows? Its newly pronounced connection with Twitter may aid the social media company’s push into Web3.
Binance Supports Musk
Apart from a16z, Binance is also one of the pro-crypto companies backing the new Twitter. The top crypto exchanges committed $500 million to Musk’s acquisition of the bluebird app. According to CEO Changpeng Zhao, there are already plans to stop rampant bot activity on the social media platform. CZ earlier referred to Elon Musk as a “strong entrepreneur.”
“We want to make sure that crypto has a seat at the table when it comes to free speech.”
He also revealed his desire to “bring Twitter into Web3 when they’re ready.”