Andreessen Horowitz’s bid to join Tesla Inc (NASDAQ: TSLA) CEO Elon Musk in his takeover of Twitter Inc (NYSE:TWTR) could reportedly spur a conflict or two.
What Happened: The Silicon Valley venture capital firm's involvement in the Musk-Twitter deal is under the scanner as co-founder and general partner Marc Andreessen has been on the board of Facebook parent Meta Platforms Inc (NASDAQ: FB) since 2008, reported Bloomberg.
Another general partner at Andreessen Horowitz, Vineeta Agarwala, is married to Twitter’s current CEO Parag Agrawal.
See Also: How To Buy Twitter (TWTR) Shares
Why It Matters: Andreessen Horowitz is shoring up $400 million to support the Twitter-Musk deal. Others who have committed $7.14 billion include Oracle Corporation (NYSE: ORCL) co-founder Larry Ellison and Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia.
An Andreessen Horowitz representative said the firm plans to seek legal advice to ensure compliance with rules related to sharing of Twitter information, according to Bloomberg.
Andreessen had previously been under scrutiny for possible conflicts at Meta as he invested in Oculus VR — a company later purchased by the Mark Zuckerberg-led social media behemoth, noted Bloomberg.
Musk is likely to take over as a temporary CEO of Twitter after he secures the purchase, according to a report on Thursday.
Price Action: On Thursday, Twitter shares closed 2.75% higher at $50.41 in the regular session and fell 0.4% in the after-hours trading. On the same day, Tesla shares closed 8.3% lower at $873.28 in the regular trading and rose 0.6% after the bell, according to data from Benzinga Pro.
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